Pakistan to launch Saudi Riyal and UAE Dirham certificates
Key takeaways
- Under the revised profit rates, investments in Saudi Riyals and UAE Dirhams will earn returns of 6.5 percent for three months, 6.75 percent for six months, and 7 percent for one year.
- Three-year and five-year NPC will offer returns of 7.25 percent and 7.5 percent, respectively.
- Returns on NPC investment in US dollars remain slightly higher, with investors receiving 6.75 percent on three-month deposits, 7 percent on six-month deposits, and 7.25 percent on one-year investments.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize KARACHI: The State Bank of Pakistan has announced that overseas Pakistanis will now be able to invest in Naya Pakistan Certificates (NPCs) in Saudi Arabian riyals and UAE dirhams, broadening the range of currencies available under the investment scheme.
In a circular issued, the State Bank of Pakistan (SBP) said all commercial banks had been informed that the Finance Division of Pakistan had approved the issuance of NPCs in both currencies, Saudi Arabian Riyals and UAE Dirhams.
Under the revised profit rates, investments in Saudi Riyals and UAE Dirhams will earn returns of 6.5 percent for three months, 6.75 percent for six months, and 7 percent for one year.