Saudi Crown Prince Mohammed bin Salman holds talks with Gen Asim Munir, Pakistan’s Chief of Army Staff in AlUla. SPA
Saudi Crown Prince Mohammed bin Salman holds talks with Gen Asim Munir, Pakistan’s Chief of Army Staff in AlUla. SPA
Saudi Crown Prince Mohammed bin Salman holds talks with Gen Asim Munir, Pakistan’s Chief of Army Staff in AlUla. SPA
Saudi Crown Prince Mohammed bin Salman holds talks with Gen Asim Munir, Pakistan’s Chief of Army Staff in AlUla. SPA

Saudi Arabia's Crown Prince Mohammed bin Salman meets Pakistan army chief in AlUla


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Saudi Arabia's Crown Prince Mohammed bin Salman has met Gen Asim Munir, Pakistan’s Chief of Army Staff, in the kingdom's heritage capital, AlUla.

The official Saudi Press Agency reported that the two countries reviewed bilateral relations and discussed opportunities for development, in addition to a number of issues of common interest.

Saudi Crown Prince Mohammed bin Salman meets Gen Asim Munir of the Pakistan military. SPA
Saudi Crown Prince Mohammed bin Salman meets Gen Asim Munir of the Pakistan military. SPA

Monday's reception was attended by Prince Khalid bin Salman, Saudi Arabia's Minister of Defence and Dr Musaed bin Mohammed, Minister of State and national security adviser.

On the Pakistani side, officials included the Director of the Office of the Commander of the Pakistani Army Maj Gen Muhammad Irfan and Pakistan's ambassador to Saudi Arabia, Amir Kahraman.

Prince Khalid met Gen Munir in Riyadh on Thursday to discuss bilateral relations and ways to enhance defence and military co-operation.

“Pleased to meet H.E. General Asim Munir, Pakistan’s Chief of Army Staff. We emphasised the strategic partnership between our brotherly countries, reviewed the bilateral military and defence relations, and discussed ways of strengthening our co-operation,” Prince Khalid tweeted.

Gen Munir took charge as Pakistan's army chief in November.

One of Saudi Arabia's most famous heritage sites, AlUla is ancient Arabic oasis city located in Madinah province that features prominently in the history of Islam. Its scenic environs have been used in recent years as a diplomatic meeting point, hosting a Gulf Co-operation Council summit in 2021.

Known as an important stopping point on the historic incense trade route which linked India and the Gulf to the Levant and Europe, AlUla is also home to Hegra, the kingdom's first Unesco heritage site, which was built more than 2,000 years ago by the Nabataeans.

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Updated: January 09, 2023, 10:22 AM