Saudi Arabia Deposits $5 Bln in Turkey’s Central Bank

Saudi Minister of Tourism and Chairman of the Saudi Fund for Development (SFD) Board of Directors Ahmed Aqeel Al-Khateeb signed an agreement with Turkey to deposit $5 billion in the country’s Central Bank, the Saudi Press Agency reported Monday.

The agreement was signed with the Governor of the Turkish Central Bank, Sahap Kavcioglu, SPA said.

It came in implementation of directives from the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Prince Mohammed bin Salman, Crown Prince and Prime Minister, the news agency added.

SPA described the move as “a testament to the close cooperation and historical ties that exist between the Kingdom of Saudi Arabia and the Republic of Turkiye and its fraternal people.”