FO rejects ‘misleading, unfounded’ commentary regarding financial deposits from UAE

ISLAMABAD: The Foreign Office (FO) on Saturday rejected “misleading and unfounded commentary” regarding financial deposits from the United Arab Emirates (UAE), saying this was a “routine transaction”.

In a statement, FO Spokesperson Tahir Andrabi said, “The deposits were placed under bilateral commercial agreements, demonstrating the UAE’s strong support for Pakistan’s economic stability and prosperity.”

He said that pursuant to mutually agreed terms, the government, through the State Bank of Pakistan (SBP), was now returning the matured deposits to the UAE.

“This is a routine financial transaction, and any attempt to portray it otherwise is erroneous and misleading,” he 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,” he said, adding that this relationship had stood the test of time and grown stronger with each passing year.

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

“Pakistan remains fully committed to further strengthening this enduring relationship for a shared, prosperous future,” he said. Staff Report