$3 billion deposit agreement between Pakistan and Saudi Arabia

$3 billion deposit agreement between Pakistan and Saudi Arabia, A deposit agreement was signed between the Saudi Fund for Development and the SBP.

A deposit agreement was signed between Saudi Arabia and Pakistan in Karachi on Monday in which Saudi Arabia was represented by the Saudi Fund for Development and the Government of Pakistan was represented by the State Bank of Pakistan.

$3 billion deposit agreement between Pakistan and Saudi Arabia

The agreement was signed by Saudi Fund Chief Executive Sultan bin Abdul Rahman Al Murshid and SBP Governor Dr. Raza Baqir.

Under the deposit agreement, the Saudi fund will keep $3 billion with the SBP. Under the agreement, the deposit will become part of SBP's foreign exchange reserves. It will help Pakistan's foreign exchange reserves and help offset the negative effects of the Code 19 epidemic.

This deposit agreement reflects the strong and special relationship between Saudi Arabia and Pakistan and will further enhance economic ties between the two brotherly countries.

$3 billion deposit agreement between Pakistan and Saudi Arabia

Pakistan's Prime Minister Imran Khan thanked Saudi Crown Prince Mohammed bin Salman for his financial support.

In October, Prime Minister Imran Khan tweeted that he would like to thank Saudi Crown Prince Mohammed bin Salman for depositing  $3 billion in Pakistan's central bank and helping Pakistan with  1.2 billion for petroleum products. I am. '

$3 billion deposit agreement between Pakistan and Saudi Arabia

It should be noted that Saudi Arabia had announced an economic package for Pakistan, according to which the Saudi Development Fund would deposit $3 billion in the State Bank of Pakistan to support safe foreign exchange assets and deal with the Corona epidemic.

$3 billion deposit agreement between Pakistan and Saudi Arabia

$3 billion deposit agreement between Pakistan and Saudi Arabia