The Saudi deposit reflects Riyadh’s confidence in the Turkish economy

0
284

Turkish Minister of Treasury and Finance Noureddine Nabatai valued Saudi Arabia’s decision to deposit $5 billion in the Central Bank of Turkey.

This came in a tweet by the minister on Twitter about the agreement concluded Monday between the Saudi Fund for Development and the Central Bank of Turkey.

Nabati said, “The decision of the Saudi Fund for Development to deposit $5 billion with the Central Bank of Turkey within the framework of our increasing economic and financial cooperation in the recent period is a positive result of the Saudi administration’s confidence in the Turkish economy and our joint efforts.”

-Advertisement-



He stressed that Turkey will continue to strengthen its economic relations with Saudi Arabia and the countries of the region

On Monday, the Saudi Fund for Development announced the signing of an agreement to deposit $5 billion with the Central Bank of Turkey.

According to a statement published by the fund, the agreement came in implementation of the directives of King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman Al Saud.

The agreement was signed in Turkey by the Chairman of the Board of Directors of the Saudi Fund for Development, Ahmed bin Aqil Al-Khatib, and the Governor of the Central Bank of Turkey, Shihab Kavji Oglu.

The Saudi Fund for Development said that the deposit is “an extension of the historical relations and close bonds of cooperation that bind the Kingdom of Saudi Arabia with the Republic of Turkey and its brotherly people.”