SBP, SFD sign $3bn deposit agreement

News Image

By MG News | November 29, 2021 at 04:51 PM GMT+05:00

0:00

November 29, 2021:  A deposit agreement between the Kingdom of Saudi Arabia, represented by the Saudi Fund for Development (SFD), and the Government of the Islamic Republic of Pakistan, represented by the State Bank of Pakistan (SBP), has been signed today by the Chief Executive Officer of SFD, H.E. Sultan Bin AbdulRahman Al-Marshal and the Governor SBP, Dr Reza Baqir at the State Bank of Pakistan in Karachi, Pakistan, said a joint press release issued by SBP and SFD.

Under this deposit agreement, SFD shall place a deposit of USD 3.0 billion with SBP. The deposit amount under the agreement shall become part of SBP’s Foreign Exchange Reserves. It will help support Pakistan’s foreign currency reserves and contribute towards resolving the adverse effects of the COVID-19 pandemic.

The deposit agreement reflects the strong and special relationship between the Kingdom of Saudi Arabia and Pakistan and will further augment the economic ties between the two brotherly countries.

Press Release

Related News

Name Price/Vol %Chg/NChg
KSE100 130,686.66
280.01M
0.26%
342.63
ALLSHR 81,305.25
897.01M
0.35%
281.26
KSE30 39,945.45
114.02M
0.09%
37.19
KMI30 190,698.05
148.61M
0.61%
1163.05
KMIALLSHR 55,074.15
495.43M
0.53%
290.50
BKTi 34,568.40
28.73M
-1.07%
-372.33
OGTi 28,739.35
22.59M
1.57%
443.29
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,140.00 110,525.00
110,055.00
-275.00
-0.25%
BRENT CRUDE 68.79 68.89
68.73
-0.01
-0.01%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.45 109.80
108.45
-0.55
-0.50%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.08 67.18
66.99
0.08
0.12%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 04, 2025 at 06:09 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 03, 2025 at 10:04 PM GMT+05:00

SBP reserves rise around to $13bn


July 03, 2025 at 05:39 PM GMT+05:00

Gold price in Pakistan rises Rs800 per tola


July 03, 2025 at 05:17 PM GMT+05:00

Microsoft exits Pakistan after 25 years


July 03, 2025 at 04:43 PM GMT+05:00

Privatisation Commission approves advisors for ZTBL



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg