Saudi Arabia grants one-year extension on $3bn deposit

MG News | November 29, 2023 at 07:14 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 29, 2023 (MLN): The Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has extended the term for the deposit of $3 billion maturing on December 05, 2023 for another one year, according to a press release issued by the central bank today.

The said amount has been placed with State Bank of Pakistan (SBP) on behalf of Islamic Republic of Pakistan.

The extension of the term of the deposit is a continuation of the support provided by the Kingdom of Saudi Arabia to the Islamic Republic of Pakistan, which will help to maintain the foreign currency reserves of Pakistan and contribute to the economic growth of the country.

It is worth noting that the $3bn-deposit agreement was initially signed through the SFD with the SBP in the year 2021 and rolled over subsequently in 2022, after the issuance of the royal directives that reflect the continuation of the close relationship between the two brotherly countries.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,765.22 212.46M	0.16% 266.28
ALLSHR	103,241.06 481.66M	0.13% 137.96
KSE30	50,813.89 65.25M	0.15% 74.20
KMI30	244,391.30 71.96M	0.08% 186.13
KMIALLSHR	66,928.26 309.74M	0.08% 55.24
BKTi	47,274.31 12.11M	0.30% 141.41
OGTi	35,009.43 4.22M	0.13% 46.86

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	83,990.00	85,595.00 83,855.00	-430.00 -0.51%
BRENT CRUDE	106.49	107.05 105.06	2.17 2.08%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	-0.10 -0.08%
ROTTERDAM COAL MONTHLY	136.55	0.00 0.00	-0.20 -0.15%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	93.84	94.33 92.68	1.43 1.55%
SUGAR #11 WORLD	18.54	0.00 0.00	0.04 0.22%