The Saudi Fund for Development (SFD) on Friday signed an agreement with the State Bank of Pakistan (SBP) to extend the maturity of its $3 billion deposit, Radio Pakistan reported.
“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 USD 3 billion deposit placed by SFD with the State Bank of Pakistan”, according to X post.The agreement was signed by Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer (CEO) of the SFD, and SBP Governor Jameel Ahmad, on behalf of SBP.
Finance Minister Muhammad Aurangzeb witnessed the signing ceremony of an important financial agreement in Washington, DC, in the presence of Pakistan’s Ambassador to the United States, on the sidelines of the World Bank-IMF Spring Meetings 2026.
According to the ministry X post, the extension underscores the strong and longstanding economic partnership between Pakistan and the Kingdom of Saudi Arabia. It is expected to support the country’s external sector stability.
