Saudi Arabia makes a $5 Billion deposit at the Central Bank of Turkey through the Saudi Fund for Development

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ISTANBUL,Turkey--(BUSINESS WIRE)--Mar 6, 2023--

In implementation of the directives from 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, KSA Minister of Tourism and Chairman of the Saudi Fund for Development (SFD) Board of Directors, H.E. Mr. Ahmed Aqeel Al-Khateeb, signed an agreement with the Governor of the Central Bank of the Republic of Turkey, Şahap Kavcıoğlu, to make a significant $5 billion deposit into the Central Bank of Turkey.

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H.E. Mr. Ahmed Aqeel Al-Khateeb, KSA Minister of Tourism and SFD Chairman, signs a $5 billion deposit agreement with the Central Bank of Turkey, alongside Governor Şahap Kavcıoğlu, further enhancing economic cooperation between the two nations (Photo: AETOSWire)

This deposit is not only a testament to the close cooperation and historical ties that exist between the Kingdom of Saudi Arabia and the Republic of Turkey and their peoples, but it is also a demonstration of the Kingdom of Saudi Arabia’s commitment to supporting Turkey’s efforts to strengthen its economy and to promote social growth and sustainable development.

The deposit will contribute to bolstering 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.

*Source: AETOSWire

View source version on businesswire.com:https://www.businesswire.com/news/home/20230306005482/en/

CONTACT: Randah Al-Hothali

Director General of Corporate Communications Department

Saudi Fund for Development

Phone: 00966112794448

KEYWORD: EUROPE TURKEY SAUDI ARABIA MIDDLE EAST

INDUSTRY KEYWORD: FINANCE BANKING OTHER CONSTRUCTION & PROPERTY PROFESSIONAL SERVICES CONSTRUCTION & PROPERTY

SOURCE: Saudi Fund for Development

PUB: 03/06/2023 08:30 AM/DISC: 03/06/2023 08:31 AM