WhatsApp Logo Subscribe
For News Alert

News

Saudi Arabia extends term of 3 billion deposit  with State Bank of Pakistan

December 2, 2022 04:49 PM


Twitter Share Facebook Share WhatsApp Share

Saudi Arabia has extended the term of the $3 billion deposit it provided to Pakistan for supporting its economy, reported 24NewsHD TV channel.

According to a tweet uploaded by the Saudi Fund for Development on Friday, it was announced that in implementation of the directives of the Custodian of the Two Holy Mosques and His Royal Highness Crown Prince and Prime Minister Muhammed bin Salman in support of the economy of the Islamic Republic of Pakistan the Saudi Fund for Development has extend the term of the $3 billion deposit parked by Kingdom of Saudi Arabia at the State Bank of Pakistan (SBP).

https://twitter.com/SaudiFund_Dev/status/1598622939972358147

The deposit agreement between the Saudi Fund for Development (SFD) and the SBP was signed in November 2021 for the $3 billion deposit to support Pakistan’s dwindling foreign exchange reserves.



Most Read

  1. Two Chinese nationals among three killed in Karachi 'suicide bombing' Two Chinese nationals among three killed in Karachi 'suicide bombing'
  2. Ali Zafar condemns Dr. Zakir Naik’s perspective on unmarried women to whom he called ‘Bazaari woman’ Ali Zafar condemns Dr. Zakir Naik’s perspective on unmarried women to whom he called ‘Bazaari woman’
  3. Ducky Bhai and wife Aroob Jatoi released after arrest Ducky Bhai and wife Aroob Jatoi released after arrest
  4. Abdullah, Shan hit tons in England Test Abdullah, Shan hit tons in England Test
  5. Dr Zakir Naik receives mixed reactions over remarks for being in Ducky Bhai's favorite persons' list Dr Zakir Naik receives mixed reactions over remarks for being in Ducky Bhai's favorite persons' list
  6. One dead, eight injured in explosion near Karachi airport One dead, eight injured in explosion near Karachi airport