Pakistan gets extension on $3bn Saudi deposit

MG News | April 17, 2026 at 10:10 AM GMT+05:00

0:00

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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