(MENAFN) Tariq Bajwa, Governor of the State Bank of Pakistan (SBP) has praised a USD3 billion deposit from the UAE, stating that it will assist the country in meeting "current account challenges".
Bajwa, who contracted the pact with the Abu Dhabi Fund for Development to formalize the deposit into the central bank of Pakistan, emphaized in a video message on Twitter that the UAE government's support will ride over the short term struggle Pakistan is going through.
"We are thankful to His Highness, the government, and people of the UAE, and Abu Dhabi Fund, for the support that they are providing us at this difficult juncture," he affirmed in remarks published by state news agency WAM.
In 2018, the UAE proclaimed the deposit of USD3 billion with the State Bank of Pakistan, under the orders of the UAE President Sheikh Khalifa bin Zayed Al Nahyan and Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to enhance Pakistan's economy.
MENAFN2301201900450000ID1098013712
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.