Saudi Arabia will soon make $5 bln deposit with Turkey -Saudi finance minister

RIYADH, Dec 8 (Reuters) – Saudi Arabia will place a $5 billion deposit at Turkey’s central financial institution “inside days,” the dominion’s finance minister, Mohammed al-Jadaan, stated on Wednesday.

“It would occur quickly. The choice was taken between us and Turkey,” he informed reporters, saying discussions have been on remaining particulars and the deposit might occur “inside days.”

“There’s nice enchancment in our relationship with Turkey and we aspire for funding alternatives in Turkey and different international locations,” he stated.

A Saudi finance ministry spokesman informed Reuters on Nov. 22 that the 2 states have been in “closing dialogue” on the deposit.

The momentum of talks between the international locations’ central banks comes after Ankara and Riyadh’s joint effort to fix ties that have been ruptured after the homicide of Saudi journalist Jamal Khashoggi in 2018 on the kingdom’s Istanbul consulate.

Reporting by Aziz El Yaakoubi in Riyadh and Alaa Swilam and Enas Alashray in Cairo; Writing by Ghaida Ghantous; Modifying by Mark Porter

Our Requirements: The Thomson Reuters Belief Rules.