Karachi, September 19, 2023 – The State Bank of Pakistan (SBP) announced on Tuesday that the government has raised the profit rates on USD-based Naya Pakistan Certificates, making these investment instruments even more attractive for investors.
The rate of return on USD-based Naya Pakistan Certificates has been increased from 7.5 percent to an enticing 9 percent on the 12-month certificate. Additionally, the rates of return on the three-month and six-month certificates have been raised by 1.25 percent and 1.30 percent, respectively. These adjustments bring the returns to 8.25 percent and 8.50 percent, up from the previous 7.20 percent.
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However, the rates of return on the 3-year and 5-year certificates have been maintained at a competitive 8 percent.
Naya Pakistan Certificates (NPCs) are sovereign instruments issued by the Government of Pakistan, available in both USD and PKR denominations. NPCs offer investors attractive risk-free returns over various maturity periods and come in both conventional and Shariah-compliant versions. The SBP administers these certificates.
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NPCs are accessible to both Non-Resident Pakistanis (NRPs) and Resident Pakistanis with declared assets abroad. NRPs can conveniently invest in NPCs through their Roshan Digital Account, which they can open online without visiting a bank branch in Pakistan, embassy, or consulate. The account can be opened in PKR or foreign currency, or both.
Resident Pakistanis who have declared assets abroad with the Federal Board of Revenue (FBR) can also invest in USD-denominated NPCs. To do so, they can open a Roshan Digital Account in foreign currency by visiting a bank branch in Pakistan.
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Investors can remit funds from outside Pakistan through standard banking channels after opening their Roshan Digital Account with the bank of their choice. These funds can then be used to invest in NPCs.
Investing in NPCs is a seamless process. Investors can subscribe to the certificate electronically through their bank’s online portal, where they select the currency (PKR or USD), tenor (3-month, 6-month, 1 year, 3 years, or 5 years), conventional or Shariah-compliant version, and the investment amount.
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For PKR-denominated NPCs, the purchase can be made directly from the balance in the PKR Roshan Digital Account. USD-denominated NPCs can be acquired from the balance in the foreign-currency Roshan Digital Account, with the exchange rate applied at the time of execution for foreign currency transactions.
This move by the SBP to increase profit rates on USD-based Naya Pakistan Certificates is expected to attract more investors looking for secure and rewarding investment opportunities in the country.
