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Egypt seeks renewal of $5.3B deposits from Saudi Arabia
Egypt is engaged in negotiations with Saudi Arabia to renew deposits worth $5.3 billion held at the Central Bank, which are due to mature this October. A final agreement has not yet been reached. These deposits are part of Saudi Arabia's financial support to Egypt since 2014, along with other deposits worth $5 billion that are renewed annually, bringing Saudi Arabia's total deposits to approximately $10.3 billion. Moreover, Kuwait and Qatar each hold deposits of $4 billion, making the total deposits from the three countries around $18.3 billion, as part of strengthening economic relations between Cairo and Riyadh, which saw bilateral trade amounting to $18 billion in 2025.
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