Pakistan rejects claims regarding UAE deposits in SBP

Islamabad: Pakistan has categorically rejected the recent misleading and unfounded commentary regarding financial deposits from the United Arab Emirates held with the State Bank of Pakistan.

In a statement, Spokesperson of the Ministry of Foreign Affairs, Tahir Andrabi said the deposits were placed under bilateral commercial agreements, demonstrating the UAE’s strong support for Pakistan’s economic stability and prosperity.

The Spokesperson said accordingly, pursuant to mutually agreed terms, the Government of Pakistan, through the SBP, is now returning the matured deposits to the UAE.

He said this is a routine financial transaction, and any attempt to portray it otherwise is erroneous and misleading.

Tahir Andrabi said Pakistan and the UAE share a longstanding, fraternal partnership built on trust and strategic cooperation across trade, investment, defence, and people-to-people ties. This relationship has stood the test of time and has grown stronger with each passing year.

He said the people of Pakistan warmly cherish the pivotal role played by the late Sheikh Zayed bin Sultan Al Nahyan, in forging this enduring friendship, as well as his special affection for Pakistan.

The Spokesperson said Pakistan remains fully committed to further strengthening this enduring relationship for a shared, prosperous future.