Home » Saudi Arabia deposits $5 bn in Central Bank of Turkiye

Saudi Arabia deposits $5 bn in Central Bank of Turkiye

by Dubaiforum

RIYADH, 6th March, 2023 (WAM) – The Saudi Minister of Tourism and Chairman of the Saudi Fund for Development (SFD) Board of Directors, Ahmed Aqeel Al-Khateeb, has signed an agreement with the Governor of the Central Bank of the Republic of Turkiye, Şahap Kavcıoğlu, to make a significant deposit of $5 billion into the Central Bank of Turkiye.

According to the Saudi Press Agency (SPA), this agreement is in line with the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Crown Prince and Prime Minister, Mohammed bin Salman Al Saud.

This deposit not only highlights the close cooperation and historical ties between the two countries and their peoples but also demonstrates the Kingdom of Saudi Arabia’s commitment to supporting Turkiye’s efforts to strengthen its economy and promote sustainable development.

The deposit will contribute to boosting the Turkish economy by addressing economic aspects across various sectors. By making this deposit, the Kingdom of Saudi Arabia is expressing its strong support for the Turkish people and its confidence in the future of the Turkish economy.

Tariq Al Fahaam/ Muhammad Aamir

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