The State Bank of Pakistan (SBP) has expanded the Naya Pakistan Certificates (NPCs) programme by introducing investments in Saudi Arabian Riyal (SAR) and UAE Dirham (AED), providing overseas Pakistanis with more currency options under the Roshan Digital Account framework.
In a circular issued on Monday, the central bank informed banks that the Finance Division had approved the issuance of Naya Pakistan Certificates in both SAR and AED. As a result, overseas investors can now diversify their investments beyond the existing US dollar, euro, and Pakistani rupee-denominated certificates.
Under the revised profit structure, both Saudi riyal and UAE dirham certificates will offer identical returns. Investors will earn 6.50 percent on three-month certificates, 6.75 percent on six-month certificates, and 7 percent on one-year investments. Meanwhile, the profit rates for three-year and five-year tenors have been set at 7.25 percent and 7.50 percent, respectively.
**Dollar Investments Continue to Offer Higher Returns**
Although the newly introduced currencies provide competitive returns, US dollar-denominated Naya Pakistan Certificates continue to offer slightly higher profit rates. Investors in dollar-based certificates will receive 6.75 percent on three-month investments, 7 percent on six-month tenors, and 7.25 percent on one-year certificates.
Furthermore, the return on three-year and five-year US dollar certificates has been fixed at 7.50 percent and 7.75 percent, respectively. Therefore, dollar investments remain more attractive for overseas Pakistanis seeking higher foreign-currency returns.
**Rupee Certificates Lead While Roshan Digital Accounts Grow**
Pakistani rupee-denominated certificates continue to provide the highest returns among all available options. Investors will earn 11.75 percent for three months, 12 percent for six months, and 12.25 percent for one year. In addition, three-year and five-year rupee certificates offer returns of 12.50 percent and 12.75 percent, respectively.
Meanwhile, euro-denominated certificates offer the lowest profit rates, ranging from 4.75 percent to 5.50 percent depending on the investment tenor. According to the latest SBP data, Roshan Digital Accounts have attracted inflows of $12.744 billion since launch, with more than 62 percent of the funds invested in Naya Pakistan Certificates.
