Return Rate, Profit Margins, Scheme: Everything you need to know about Shariah-compliant INPCs

For investments made in the NPC’s foreign currencies, the government is willing to offer an annual return rate of 5.5% upon the three-month certification.

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The Pakistani government has decided to introduce regulations that would be entirely Sharia-compliant, allowing both the Pakistani residents and non-residents to make an investment in the foreign currencies by Islamic Naya Pakistan Certificates (INPCs).  The motive that governs the idea is to establish foreign exchange reserves and positively support Pakistan’s economy.

As per the regulations

The non-resident Pakistanis with a local Roshan Digital Account (RDA) and resident Pakistanis with real assets overseas are qualified to participate in the three-month to five-year-long Shariah-compliant saving certificates (INCPs).

INCPs are available in both the foreign currencies (practically in the US dollar) and the local currency of rupees.

Eight banks are committed to officially inaugurate the Islamic Saving Certificates in local and foreign currencies.

The banks include:

  1. Faysal Bank
  2. MCB Bank
  3. Meezan Bank
  4. Habib Bank limited
  5. Samba Bank
  6. United Bank Limited
  7. Standard Chartered Bank
  8. Bank Alfalah

These banks would be required to create two Shariah-compliant assets (Mudaraba pools), which would be valued at around $20 million and Rs. 5 billion.

Afterward, non-resident and resident Pakistanis would be allowed to become a part of the assets through investing in saving certificates with the banks. In contrast, receipts from Pakistanis would only be delivered to the federal government.

Profit Margins of Islamic Naya Pakistan Certificates (NPCs)

Investors will be presented with a return on investment at approximately the same rates as being provided on conventional Naya Pakistan Certificates (NPCs).

For investments made in the NPC’s foreign currencies, the government is willing to offer an annual return rate of 5.5% upon the three-month certification. It increases to 6% on the six-month certificate and 6.5% on a 12-month certificate. Furthermore, it’s also possible to make long-term investments with 6.75% on three-year and 7% on the five-year saving certificate.

Regarding investments made on local rupees, an annual return of 9.5% is offered on the three-month certificate and 10% on a six-month certificate along with 10.5% on 12-month. In terms of long term investments, 10.75% on three-year, and 11% on the five-year saving certificate.

The overseas Pakistani’s are also presented with the benefit of withdrawing the investment after one month in the saving certificate of the duration from three months to five years. It means that the credentials can be sold prematurely and investment withdrawn from their foreign accounts.


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