| The Certificates are not transferable except if required under the relevant laws | As such, most investors felt the need for a means of investing directly, without requiring a money transfer, with their request for such a service resulting in the Roshan Digital Account Initiative |
|---|---|
| Resident Pakistanis who have declared assets abroad with FBR can invest in USD-denominated NPCs | There is, however, no guarantee that INPCs will be remunerated on these rates as profits on INPCs will be paid based on the actual results of USD and PKR pools being managed by SPV for issuing the INPCs |
Since INPCs are offered in both USD and PKR denomination, the company maintains separate Mudaraba pools for USD and PKR.
22| Step 3: Select the Naya Pakistan Certificate Select the currency, tenor, type of certificate and the amount you plan on investing | Naya Pakistan Certificate Banks 2021• Funds in NRV account can be used to purchase NPCs in PKR whereas NPCs in USD denomination can be purchased from the balances in the investors FCV accounts |
|---|---|
| RDAs have become a popular source of transferring money to Pakistan by overseas Pakistanis | Historical averages of exchange rate depreciation may not necessarily be a good indicator for the future trend in the exchange rate |
Eventually, Overseas Pakistanis holding an account will be able to invest in:• Indeed, we lay out in one of the charts the comparison between the rates the government borrows from savers at the National Savings — which are quite comparable to rates the government pays institutional investors when it sells Pakistan Investment Bonds PIBs — and the rupee-denominated rates of the Naya Pakistan Certificates.
| Profit has learned from some high net-worth individuals based in the United Arab Emirates that they are considering investing relatively large sums of money, but it remains unclear exactly how representative those individuals are of the broader Pakistani expatriate community, whether it be in the UAE or elsewhere | For further information on Roshan Digital Account from State Bank of Pakistan, please visit or email at Disclaimer• Your point about motivation of remittances are spot on, nobody or at least very few send these bucks because they are grateful to Pakistan, it is either need or desire for gain that motivates home remittances |
|---|---|
| Q18: What is the Shariah structure of INPCs? Profit on premature encashment will be paid as per the prevailing rate of return of the nearest shorter maturity of Certificates | The profit ratio for three-years plan is 6 |
Banks Associated with the Roshan Digital Account Initiative Eight commercial banks have partnered with the SBP to launch the Roshan Digital Account Initiative.
21