Five Billion Dollar Saudi Deposit at the Turkish Central Bank

The Chairman of the Saudi Fund for Development, Ahmad bin Aqeel al-Khateeb, announced the signing of a $5 billion deposit agreement for the benefit of the Turkish Central Bank. The agreement was signed on the Turkish side by Turkish Central Bank Governor Şahap Kavcıoğlu. A statement issued by the Saudi Fund indicated that the agreement was made under the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Crown Prince Mohammed bin Salman. It added that "this deposit comes as an extension of the historical relations and strong ties that unite the Kingdom of Saudi Arabia with the Republic of Turkey and its brotherly people."