The UAE has officially rolled over two $1 billion deposits placed with the State Bank of Pakistan (SBP) for another year, according to a statement from the SBP. These deposits were initially set to mature in January 2025.
Prime Minister Shehbaz Sharif had earlier hinted at this development during a federal cabinet meeting, following his discussions with UAE President Sheikh Mohammed bin Zayed Al Nahyan in Rahim Yar Khan.
PM Shehbaz highlighted that Sheikh Mohammed assured further investments in Pakistan, emphasizing the close economic and diplomatic ties between the two nations.
This move reinforces the UAE's support for Pakistan’s economic stability and underscores the historic friendship between the two countries, with the Gulf state being a key investor in Pakistan’s economy.
