Saudi Arabia rolls over $3bn deposits to Pakistan for another year
KARACHI – The Saudi Fund for Development on behalf of Saudi Arabia has extended the term for the deposit of $3 billion maturing on 5 December 2024 for another year.
“The said amount has been placed with State Bank of Pakistan on behalf of Islamic Republic of Pakistan,” read the official statement. It is worth noting that the $3 billion deposit agreement was initially signed with SFD in the year 2021 and subsequently rolled over in 2022 and 2023, after the issuance of the royal directives that reflect the continuation of the close relationship between the two brotherly countries.The rollover comes a day after Prime Minister Shehbaz Sharif held a meeting with Saudi Crown Prince Mohammed bin Salman bin Abdul Aziz on the sidelines of the ‘One Water Summit’ in Riyadh.
Both the leaders expressed satisfaction at the pace of progress of the implementation of the Saudi MoUs and agreements regarding investment in Pakistan.
Pakistan Deposits Rollover Economy
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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