Saudi arabia and Pakistan sign agreement dor $3 Billion deposit
News, Online Service, Online Services, TV, Uncategorized November 30, 2021 No Comments on Saudi arabia and Pakistan sign agreement dor $3 Billion depositIn an expected development, the State Bank of Pakistan (SBP) and Saudi Fund for Development (SFD) on Monday signed a deposit agreement for the much-awaited funds worth $3 billion. According to a joint statement, under this deposit agreement, SFD shall park $3 billion in the SBP. โThe deposit amount under the agreement shall become part of SBPโs foreign exchange reserves,โ it said.The central bank added that the deposit would help support Pakistanโs foreign currency reserves and โcontribute towards resolving the adverse effects of the COVID-19 pandemic. “The deposit agreement was signed by SFD Chief Executive Officer H E Sultan Bin AbdulRahman Al-Marshad and the SBP Governor Dr Reza Baqir at
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