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HomeFinanceSaudi Arabia extends Pakistan's deposit term by $3 billion

Saudi Arabia extends Pakistan’s deposit term by $3 billion

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In a momentous milestone, the Kingdom of Saudi Arabia officially extended its $3 billion deposit facility with the State Bank of Pakistan (SBP) for another year on Wednesday.

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The central bank added in a statement that the Saudi Fund for Development (SFD), acting on behalf of the Kingdom, confirmed the extension of the period for the deposit, which was initially scheduled to mature on December 5, 2023.

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