According to the government’s definition, it’s a sovereign U.S.A. dollar-denominated retail level instrument offered by the government of Pakistan for the Non-resident Pakistanis having overseas bank accounts.
Pakistan Banao Certificates theme is associate degree initiative aimed to encourage overseas Pakistan is to speculate their savings within the country. The certificate offers profit rates that area unit on top of the United State, Europe, and Gulf countries.
The initiative permits the expats to contribute to the event of their motherland whereas earning handsome profits and multiple rewards.
Who Is Eligible for Pakistan Banao Certificates theme?
According to the press, only Overseas Pakistanis holding a Computerized National Identity Card (CNIC), National Identity Card for Overseas Pakistanis (NICOP) or Pakistan Origin Card (POC), and maintaining their bank account abroad, will invest within the theme digitally through a secure platform.
What area unit the advantages of Pakistan Banao Certificates?
The investors are exempted from income tax and mandatory deduction of a pillar of Islam. You can even have the choice to money the certificates untimely in Rupees with none deduction.
Registering for the theme is incredibly simple and you would like to follow these easy steps:
How Much am I able to Invest?
The investors will inject as low as $5000 and any integral multiples of US$ 1000 in excess, thereof, with no maximum limit.
What is the Profit Rates for Pakistan Banao Certificates?
Pakistan Banao Certificate is on the market in 3 and 5-year maturities, with profit rates of 6.25 % and 6.75 % every year. Overseas Pakistan can buy one or more certificates from their foreign bank accounts. It might be a neighborhood of this project that aims to make ‘Naya Pakistan.’
How to Register for Pakistan Banao Certificates?
- Visit Pakistan Banao Certificates official web site
- Click Apply for Registration’ on the homepage
- Create your profile by filling out the details with full name, email, identity document, and gender.
- Once with successfully registered, you need to choose your investment type and provide bank account details.
- The funds transferred from a foreign bank to the state bank of Pakistan account in National bank of Pakistan, New York.
- The funds reaching the SBP account should be such as the meant investment on balance the costs if any.
- Once you receive your funds, the users are issued electronic certificates via email in addition as on the registered account. Each certificate holder will be issued a unique identity number.
- You can keep a track of your application through user account accessible via respective user ID and password.
Once you are done all the above steps, your profit (in USD) submit in to the desired account maintained abroad.
However, if the capitalist desires to encash the bonds in USD inside the first year, a penalty of 1% are levied. Redemption module of Pakistan Banao Certificates portal is often wont to submit encashment applications online.