Pakistan

Deposit agreement reached between Saudi Arabia and Pakistan, SBP

State Bank of Pakistan (SBP) has announced a deposit agreement between Saudi Arabia and Pakistan.

According to the SBP statement, Saudi Arabia will keep 3 3 billion in funds with the SBP under the deposit agreement.

According to the statement, Saudi Arabia was represented at the signing ceremony by the Saudi Fund for Development.

According to the SBP, the agreement was signed on behalf of Pakistan by Sultan Bin Abdul Rehman Murshid, CEO of Saudi Funds and Raza Baqir, Governor SBP.

According to an SBP statement, Saudi funds will be part of the SBP’s foreign exchange reserves after the transfer, which will help offset the negative effects of the Corona epidemic.

According to the statement, the agreement reflects the strong and special relations between Pakistan and Saudi Arabia, which will further enhance economic ties between the brotherly countries of Pakistan and Saudi Arabia.

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