Washington: The Saudi Fund for Development has signed an agreement to extend the maturity of its $3 billion deposit with the State Bank of Pakistan. This decision aims to bolster Pakistan’s external sector stability and underscores the enduring economic partnership between Pakistan and Saudi Arabia.

According to Radio Pakistan, the agreement was finalized in Washington, D.C., where Sultan bin Abdul Rahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, and Jameel Ahmad, Governor of the State Bank of Pakistan, were present. Finance Minister Muhammad Aurangzeb also attended the signing ceremony.