Summary The State Bank of Pakistan has expanded Naya Pakistan Certificates to include Saudi Riyal and UAE Dirham, aiming to attract more overseas investment with profit rates of up to 7.50%
KARACHI (Dunya News) – The State Bank of Pakistan has expanded the currency options for the Naya Pakistan Certificates (NPCs), allowing overseas Pakistanis to invest in Saudi Riyals (SAR) and United Arab Emirates Dirhams (AED), according to an official circular.
The move is aimed at facilitating expatriates in Gulf countries by enabling investment in their local currencies, in addition to existing options in Pakistani rupees, US dollars, British pounds, and euros.
Under the revised framework, the minimum investment threshold has been set at 1,000 currency units for foreign currencies, including SAR and AED, while additional investments can be made in multiples of 500 units. For Pakistani rupee investments, the minimum limit remains Rs10,000 with increments of Rs1,000.
The State Bank clarified that separate banking arrangements have been designated for these currencies. Investments in Saudi Riyals will be processed through Saudi National Bank and SBP-linked accounts, while UAE Dirham investments will be routed via First Abu Dhabi Bank and SBP accounts.
The circular further stated that profit rates for Saudi Riyal and UAE Dirham-denominated certificates will remain aligned with existing NPC returns. The return has been set at 6.50% for three-month tenors and 7.50% for five-year tenors.
Officials said the expansion is expected to increase participation from Gulf-based overseas Pakistanis and enhance foreign currency inflows into the country.
