ABU DHABI – Sheikh Mohammed bin Rashid Al Maktoum, the United Arab Emiratesruler has announced its intention to deposit US$3 billion (equivalent toAED11 billion) in the State Bank of Pakistan to support its financial andmonetary policy, Emirates News Agency said Friday.
The Abu Dhabi Fund for Development said, in a statement, that it willdeposit the said amount in the coming days to enhance liquidity andmonetary reserves of foreign currency at the central bank.
The country’s support for Pakistan’s fiscal policy is based on thehistorical ties between the two people and the two friendly countries andthe desire to further develop the bilateral cooperation in all fields.
