UAE to deposit $3bn in State Bank of Pakistan

[SunilM]

UAE to deposit $3bn in State Bank of Pakistan

The United Arab Emirates has announced its intention to deposit US$3 billion (equivalent to AED11 billion) in the State Bank of Pakistan to support the financial and monetary policy of the Islamic Republic of Pakistan.

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


Pakistan is one of the first countries to establish diplomatic relations with the United Arab Emirates. The country's support for Pakistan's fiscal policy is based on the historical ties between the two peoples and the two friendly countries and the desire to further develop the bilateral cooperation in all fields.

The Abu Dhabi Fund for Development has financed eight development projects in Pakistan with a total value of AED1.5 billion, including AED931 million in grants. The funds covered projects in sectors such as energy, health, education and roads

https://www.emirates247.com/busines...in-state-bank-of-pakistan-2018-12-21-1.676905

Badhai Ho!!

 

[Imran Khan]

too many deposits at the end close this account

 

[SunilM]

too many deposits at the end close this account

You do realize all this money will be converted into a grant.

 

[maithil]

This and coming Chinese money should be enough for Assad Umer to say FO to IMF and FATF.

 

[SunilM]

i wish it will be last grant enough of bhikari panna

Haha, chinese are going to give you another 2 billion in their local currency. After that, maybe.

 

[Imran Khan]

Haha, chinese are going to give you another 2 billion in their local currency. After that, maybe.

jo de uska bhi bhala jo na de uska bhi bhala

 

[khansaheeb]

Haha, chinese are going to give you another 2 billion in their local currency. After that, maybe.

https://www.facebook.com/

 

[Pakistansdefender]

Confirmed now.
Now journalist would ask exact date..

 

[Tom M]

jo de uska bhi bhala jo na de uska bhi bhala

"ho sabka bhala". Well that sounds more easy.

 

[RIP Pak LAW]

So sad for sunil :d

 

[Tom M]

GREAT. But I genuinely wonder whether all these help/aid are really free or yet other credits?? Can anyone with knowledge of the same please enlighten ?

 

[RIP Pak LAW]

Money will be kept in state bank of Pakistan for 2.5 years as per Pakistani media.

GREAT. But I genuinely wonder whether all these help/aid are really free or yet other credits?? Can anyone with knowledge of the same please enlighten ?

Will be returned back after 2. 5 years in gradual steps.

 

[Tom M]

Money will be kept in state bank of Pakistan for 2.5 years as per Pakistani media.



Will be returned back after 2. 5 years in gradual steps.

With or without interest, if you don't mind ?? Just curious.

 

[SunilM]

So sad for sunil :d

Haha. June 2019. You will be under an IMF programme.That is you destiny.

 

[doorstar]

PDFers, RSSers and Modians going: but,but,but, we icholated Pakistan, it should be colapching and becoming part of akhunda bharata any minute now