Saudi Arabia in talks to deposit $5bn into Turkey’s central bank

Source:Financial Times Date:23Nov2022

Saudi Arabia is discussing a deal to inject $5bn into Turkey’s central bank in a move that would shore up Ankara’s foreign currency reserves and mark a further sign of rapprochement between the regional rivals four years after the murder of Jamal Khashoggi. Riyadh and Ankara are in talks over the potential deposit, a Saudi finance ministry official said, without providing further details. A Turkish finance ministry official confirmed that the two sides were discussing a deposit. “The talks haven’t concluded but they are in the final stages,” he said.