I was doing some digging on this earlier and came across this BIS article from June 5 that mentioned Saudi Arabia is joining mBridge as a full participant:

Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach. The project aims to explore a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks, built on distributed ledger technology (DLT) to enable instant cross-border payments and settlement.

Project mBridge is the result of extensive collaboration starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People's Bank of China and the Hong Kong Monetary Authority. The Saudi Central Bank is joining mBridge as a full participant. There are also now more than 26 observing members.

I'm a firm believer in things aren't often just coincidences. The fact this was updated on the 5th mentioning Saudi Arabia was joining with the agreement set to expire on June 9th seems just too easy to connect.