The State Bank of Pakistan (SBP) Wednesday announced that the United Arab Emirates (UAE) has confirmed roll over of its two deposits of $1 billion each placed with SBP for another one year.
In a short statement shared on X, the central bank pointed out that both deposits were maturing in January 2024.
UAE has confirmed rollover of its two deposits of US$1.0 billion each placed with State Bank of Pakistan for another one year which were maturing in January 2024.#SBP
— SBP (@StateBank_Pak) January 17, 2024
ProPakistani had reported on Tuesday that the roll over is expected during the current week. Caretaker Prime Minister Anwaar-ul-Haq Kakar had written a letter to the President of the UAE for the roll over of the deposits.
Earlier, the central bank also confirmed that it has received the second tranche of $705.6 million from the International Monetary Fund (IMF) under the $3 billion Stand-By Arrangement (SBA).
