Overseas Pakistanis can now invest in Naya Pakistan Certificates in Saudi riyals and UAE dirhams.
Overseas Pakistanis can now invest in Naya Pakistan Certificates in Saudi riyals and UAE dirhams. The State Bank of Pakistan announced the move, broadening the range of currencies available under the scheme.
According to ARY News, the State Bank of Pakistan issued a circular informing all commercial banks of the change. The bank said the Finance Division had approved the issuance of the certificates in both currencies.
Investments in Saudi riyals and UAE dirhams will earn 6.5 percent for three months, 6.75 percent for six months, and 7 percent for one year. Three-year and five-year certificates will offer returns of 7.25 percent and 7.5 percent.
Returns on certificates held in US dollars remain slightly higher. Investors receive 6.75 percent on three-month deposits, 7 percent on six-month deposits, and 7.25 percent on one-year investments. The dollar rates rise to 7.5 percent and 7.75 percent for three-year and five-year terms.
The highest returns continue to be offered on certificates in Pakistani rupees. These provide profits ranging from 11.75 percent to 12.75 percent, depending on the investment period. Euro-denominated certificates offer the lowest returns, ranging from 4.75 percent for three months to 5.5 percent for one year.
Naya Pakistan Certificates and Overseas Investment
The State Bank of Pakistan launched Naya Pakistan Certificates in 2020 under the Roshan Digital Account initiative. The certificates have become a key source of overseas investment for the country.
The addition of the Saudi riyal and the UAE dirham widens access for Pakistanis living in the Gulf. The two countries host large Pakistani populations, and the new currency options allow those workers and residents to invest without converting their earnings into dollars or euros first.
Roshan Digital Account Inflows Reach Record Levels
State Bank data shows total inflows through Roshan Digital Accounts have reached 12.74 billion dollars. More than 62 percent of that has been invested in Naya Pakistan Certificates.
The central bank said about 8.15 billion dollars of those inflows had been used within Pakistan. It said the country’s net repatriable liability stood at about 2.44 billion dollars.
The Roshan Digital Account program was set up to give overseas Pakistanis a direct channel to invest in their home country. The scheme links banking, investment and remittance services in a single digital account aimed at the diaspora.
The expansion into Gulf currencies follows steady growth in the program since its launch. The State Bank has gradually added features and options to attract more overseas investment. It is being reported that the riyal and dirham certificates are the latest step in that effort.
