The Saudi Fund for Development (SFD) has extended the time period for a deposit of $3 billion maturing on December five, 2024 for another 12 months to help Pakistan’s economy, the State Bank of Pakistan (SBP) stated. A deposit settlement for $3 billion become to begin with signed with the SFD inside the 12 months 2021 and in the end rolled over in 2022 and 2023. “The extension of the time period of the deposit is continuation of the guide provided by means of the Kingdom of Saudi Arabia to the Islamic Republic of Pakistan, on the way to assist in strengthening the forex reserves of Pakistan and contribute to the country’s economic boom and development,” the SBP assertion examine. The improvement is a comfort for the vital bank’s forex reserves which might be currently status at $11.42 billion as of November 22, 2024.