Pakistan, Saudi Arabia sign USD3bn deposit extension deal

WASHINGTON: Pakistan and Saudi Arabia have signed Saudi Deposit Extension Agreement during a ceremony in Washington.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb witnessed the signing of the important financial agreement in Washington, D.C., in the presence of the Ambassador of Pakistan to the United States, on the sidelines of the World Bank-IMF Spring Meetings 2026, a press release said on Friday.

The agreement, signed between the Saudi Fund for Development (SFD) and the State Bank of Pakistan (SBP), provides for the extension in the maturity of a USD3 billion deposit placed by SFD with the State Bank of Pakistan.

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The agreement was signed by Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, on behalf of SFD, and Jameel Ahmad, Governor of the State Bank of Pakistan, on behalf of the SBP.

The extension of the deposit reflects the strong and longstanding economic partnership between Pakistan and Saudi Arabia, and will further support Pakistan’s external sector stability.