Pakistan gets extension on $3bn Saudi deposit
MG News | April 17, 2026 at 10:10 AM GMT+05:00
April 17, 2026 (MLN): Pakistan and Saudi Arabia have agreed to
extend a $3 billion deposit facility placed by the Saudi Fund for Development
(SFD) with the State Bank of Pakistan (SBP), strengthening ongoing financial
cooperation between the two countries.
The agreement was witnessed by Federal Minister for Finance
and Revenue Senator Muhammad Aurangzeb during a ceremony held in Washington,
D.C., on the sidelines of the World Bank-IMF Spring Meetings 2026, in the
presence of Pakistan’s Ambassador to the United States, according to an X post
by the Ministry of Finance.
The signing took place between the Saudi Fund for
Development and the State Bank of Pakistan.
Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer
of SFD, signed on behalf of the Saudi side, while SBP Governor Jameel Ahmad
represented the State Bank of Pakistan.
Officials said the extension reflects the long-standing
economic partnership between Pakistan and Saudi Arabia and is expected to
further support Pakistan’s external sector stability.
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