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Saudi Arabia Deposits $5 Bln in Türkiye's Central Bank

Chairman of the Saudi Fund for Development (SFD) Board of Directors and the Governor of the Turkish Central Bank. SPA
Chairman of the Saudi Fund for Development (SFD) Board of Directors and the Governor of the Turkish Central Bank. SPA
    Asharq A-Awsat
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Saudi Arabia Deposits $5 Bln in Türkiye's Central Bank

Chairman of the Saudi Fund for Development (SFD) Board of Directors and the Governor of the Turkish Central Bank. SPA
Chairman of the Saudi Fund for Development (SFD) Board of Directors and the Governor of the Turkish Central Bank. SPA

Saudi Minister of Tourism and Chairman of the Saudi Fund for Development (SFD) Board of Directors Ahmed Aqeel Al-Khateeb signed an agreement with Türkiye 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 Türkiye and its brotherly people."

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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi said that the Advantage Oman Forum is a valuable opportunity offered by Oman to discuss and review investment opportunities and initiatives, as well as future transformations in promising sectors in this field.
This came during Albudaiwi's participation in the first edition of the Advantage Oman Forum, which was held under the patronage and attendance of Omani Deputy Prime Minister for Defense Affairs Sayyid Shihab bin Tarik Al Said, and in the presence of a number of ministers of the GCC countries, Sunday in Muscat. A group of senior officials and decision-makers participated in the forum, SPA reported.
The Secretary-General stated that Oman's Organisation of this forum reflects the insightful vision of the wise Omani leadership to strengthen the national economy and attract global investments, thus contributing to achieving sustainable development goals. He also praised the forum's activities and the workshops as well as the dialogue sessions it included, which provide the elements of success and sustainability for this forum, making it a regional and international platform and a destination for those interested in economic and investment affairs in Oman.
Furthermore, Albudaiwi added that Oman, with its attractive investment environment, advanced infrastructure, well-thought-out economic policies and significant economic, in addition to investment growth indicators, has become a destination for investors from around the world, stressing that this strengthens its position as a key pillar in the economies of the GCC countries and supports the council's aspirations for regional economic integration.
The Secretary-General concluded his statement by expressing his confidence that the forum will achieve positive results that will contribute to expanding the horizons of economic and investment cooperation between the GCC countries and the world, and support the comprehensive development process in the region.