$5 billion investment from Saudi Arabia to the Central Bank

A USD 5 billion deposit investment agreement was signed with the Central Bank of the Republic of Turkey by the Saudi Arabian Development Fund.

An agreement to invest $5 billion in CBRT deposits was signed between Ahmed Al Khatib, Saudi Minister of Tourism and Chairman of the Saudi Arabia Development Fund, and Shahap Kavjioglu, President of the CBRT. Although the statement on this matter came from the Saudi Arabian authorities, it was stated that this step was taken by the decision of King Salman bin Abdulaziz Al Saud of Saudi Arabia and Crown Prince Mohammed bin Salman Al Saud.

Noting that it is intended to help solve economic problems in various industries through investment deposits, the statement said:

“This deposit agreement through the Saudi Development Fund is not only a testament to the close cooperation and historical ties between the Kingdom of Saudi Arabia and the Republic of Turkey and its people, but also a demonstration of the Kingdom of Saudi Arabia’s commitment to support Turkey’s empowerment efforts.”