Naya Pakistan Certificates Expanded to Saudi Riyal and UAE Dirham for Overseas Pakistanis
The State Bank of Pakistan (SBP) has expanded the scope of Naya Pakistan Certificates (NPCs) by introducing investment options in Saudi Riyals (SAR) and United Arab Emirates Dirhams (AED), making it easier for overseas Pakistanis in Gulf countries to invest in the scheme.
According to an official circular issued by the central bank, expatriates can now invest in NPCs using SAR and AED in addition to the existing investment currencies, which include Pakistani rupees, US dollars, British pounds and euros.
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The initiative is aimed at improving accessibility for Pakistanis living and working in the Gulf region, where the majority of overseas remittances originate. By allowing investments in local Gulf currencies, authorities hope to encourage greater participation in the savings and investment program.
Under the revised framework, the minimum investment amount for foreign currency-denominated certificates, including SAR and AED, has been fixed at 1,000 currency units. Additional investments can be made in multiples of 500 units. For investments in Pakistani rupees, the minimum threshold remains Rs10,000, with further investments allowed in increments of Rs1,000.
The State Bank has also outlined dedicated banking channels for processing investments in the newly added currencies. Saudi Riyal investments will be handled through Saudi National Bank in coordination with SBP-linked accounts, while UAE Dirham investments will be processed through First Abu Dhabi Bank and designated SBP accounts.
Profit rates on the new Saudi Riyal and UAE Dirham certificates will be the same as those offered on existing foreign currency NPCs. Investors will receive a return of 6.50% on three-month certificates, while five-year certificates will offer a profit rate of 7.50%.
Also See: Currency Exchange Rate in Pakistan
Officials believe the addition of SAR and AED investment options will strengthen the appeal of Naya Pakistan Certificates among overseas Pakistanis in the Gulf region, helping attract more foreign currency inflows and supporting the country’s external financial position.
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