Sale of Conventional Naya Pakistan Certificates begin

The Finance Ministry of Pakistan on Monday announced that the sale of Conventional Naya Pakistan Certificates (NPCs) has initiated through agent banks.

In a statement, the ministry said that Roshan Digital Account holders of United Bank Limited (UBL), Habib Bank Limited (HBL), MCB Alfalah Standard Chartered, and Samba Bank can subscribe to NPCs by visiting the NPC page of their respective bank.

The ministry added that Shariah-compliant version is also coming very soon.

As per reports, NPCs will offer short- to long-term investment options; they will replace the existing short-term Overseas Pakistanis Savings Bills (OPSBs) issued by the Central Directorate of National Savings and the long-term Pakistan Banao Certificates (PBCs) issued by the Federal Government.

The NPCs will be available to (i) non-resident Pakistanis having National Identity Card for Overseas Pakistanis (NICOP); (ii) foreigners with Pakistan Origin Card (POC); (iii) members of Overseas Pakistanis Foundation; (iv) employees or officials of the federal and provincial governments posted abroad, and (v) resident Pakistanis having assets abroad which have been duly declared in latest tax returns submitted to the FBR.