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
US, Pakistan partner on “Green Alliance” to combat climate change
LAHORE, APR 28: U.S. Deputy Chief of Mission (DCM) Andrew Schofer, during his April 25-28Read More
PM calls upon bridging gap between Global South, North in health sector
Erfan Khan RIAYDH, Apr 28 (APP/DNA): Prime Minister Muhammad Shehbaz Sharif on Sunday while termingRead More
Comments are Closed