Naya Pakistan Certificates have been launched by the State Bank of Pakistan (SBP). The resident Pakistanis who have a Foreign Currency Roshan Digital Account, this would offer them with attractive returns over different maturities.
These certificates are the foreign currency-denominated debt securities of the Pakistan government. The State Bank of Pakistan said that the resident Pakistanis who declared their assets abroad with the Federal Board of Revenue (FBR) will be permitted to open a Foreign Currency Roshan Digital Account. The resident Pakistanis who do have this account can invest in the NP Certificates with higher returns.
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The State Bank of Pakistan has given essential information about the opening and managing of the account.
In order to open the account, users can visit a branch of either Bank Alfalah, Faysal Bank, Habib Bank, MCB, Meezan, Samba, Standard Chartered, and UBL. They need to open the account via the standard procedure for resident Pakistanis. Provide tax returns. Then the joint account will be opened with another resident Pakistani.
The account will receive remittances from abroad via the banking channels. It is pertinent to mention here that internet/ mobile banking, ATM/ debit cards will be available with the account. The bank might as well give a cheque book to the account holder if required.