Saudi Arabia deposits $5 bln in CBE

Ahram Online , Wednesday 30 Mar 2022

Saudi Arabia deposited $5 billion in the Central Bank of Egypt (CBE) on Wednesday, according to Saudi state news agency SPA.

The Central Bank of Egypt (CBE) headquarters, Cairo, Egypt.  AP
The Central Bank of Egypt (CBE) headquarters, Cairo, Egypt. AP

The deposit comes as part of the “rigid bonds and close cooperative relations” between the two countries and is a “gesture of confirmation of their deep-rooted relations,” according to SPA.

“The step stresses the solid bilateral relations between the two countries and peoples in all fields and at all levels and represents the Kingdom of Saudi Arabia’s ongoing efforts as part of its continuous leading role in supporting the Arab Republic of Egypt,” SPA added.

More to follow…

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