Saudi Arabia confirms rollover of $3b deposit for one year
DNA
ISLAMABAD, Sep 18: The Saudi Fund for Development (SFD) has confirmed the rollover of $3 billion deposit maturing on December 05, 2022 for one year.
The State Bank of Pakistan (SBP) said on its official twitter handle on Sunday that the deposit is placed with SBP and is part of its forex reserves. “This reflects continuing strong and special relationship between KSA and Pakistan,” the SBP added.
In November 2021, a deposit agreement between the Kingdom of Saudi Arabia, represented by the SFD and the Government of the Islamic Republic of Pakistan, represented by the State Bank of Pakistan (SBP), was signed under which SFD placed a deposit of USD 3.0 billion with SBP.
Related News
Petrol price up by Rs3.66, HSD by Rs4.80 as govt revises fuel rates
ISLAMABAD, JUL 25: The government on Friday increased the prices of petrol and high-speed dieselRead More
Parts of Karachi receive rain as PMD predicts more showers on weekend
KARACHI, JUL 24: Rain and drizzle were reported in several parts of Karachi on FridayRead More
Comments are Closed