Abu Dhabi, UAE -- The Arab Monetary Fund (AMF) and the State Bank of Pakistan (SBP) have signed an MoU to enhance cross-border payments. The partnership aims to create a framework for cooperation between Buna, the cross-border payment system operated by the Arab Regional Payments Clearing and Settlement Organization (ARPCSO),...
Cash-strapped Pakistan gets $2 billion deposit from Saudi Arabia
The economy has been stricken by a balance-of-payments crisis as it attempts to service crippling external debt, while months of political chaos have scared off foreign investment. Inflation has rocketed, the rupee has reached a record low against the dollar, and the country is struggling to afford imports, causing a...
Saudi Fund for Development to give $3 billion to Pakistan
Saudi Arabia reactivated its support for Pakistan in the last week of October, including about $3 billion in safe deposits and $1.2 billion in oil supplies on deferred payments.
Saudi Arabia supports Pakistan with $4.2bn lifeline
The money is coming in through the SFD, a Saudi government agency that usually finances social and infrastructure projects in developing countries.
Pakistan imports goods worth $10.6 b from four GCC countries
Imports from UAE $6.2 billion compared to $5.9 billion last year The highest increase in imports recorded from Saudi Arabia Pakistan’s imports from four GCC countries were nearly $10.6 billion during the first 11 months of 2020-21, a report said. The country's imports from UAE were worth nearly $6.2 billion...
