Egypt discusses renewing $5.3B deposits with Saudi Arabia
Egypt is negotiating with Saudi Arabia to renew deposits worth $5.3 billion held at the Central Bank of Egypt, which are due for maturity this October. Efforts are underway to determine the renewal period, but no final agreement has been reached yet. These deposits are part of the financial support provided by Saudi Arabia to Egypt since 2014, in addition to short-term deposits of $5 billion that are renewed annually, bringing Saudi Arabia's total deposits to approximately $10.3 billion. Kuwait and Qatar also hold deposits of $4 billion each, bringing the total deposits of the three countries to around $18.3 billion, as part of strengthening economic relations between Cairo and Riyadh. The bilateral trade exchange between the two nations reached $18 billion in 2025.
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