UAE to deposit US$3 billion in State Bank; PM Imran thanks for ‘generous’ support

ABU DHABI: A month after Prime Minister Imran Khan’s meeting with Prime Minister of the UAE, Sheikh Mohammed bin Rashid Al Maktoum, the United Arab Emirates announced its intention to deposit US$3 billion (equivalent to AED11 billion) in the State Bank of Pakistan to support its financial and monetary policy, Emirates News Agency said Friday.

The Abu Dhabi Fund for Development said, in a statement, that it will deposit the said amount in the coming days to enhance liquidity and monetary reserves of foreign currency at the central bank.