About Islamic Naya Pakistan Certificate:
The Islamic Naya Pakistan Certificate are issued by Government of Pakistan, for Roshan Digital Account holders to invest into high yield certificates. The rates offered are not only competitive but contribute to the future development of Pakistan and its Economy.
FBL is an agent bank in this investment scheme and is proudly associated with in ensuring that we continue to serve Pakistan to the best of our capabilities and that our clientele receive the best of services to ease their investment process
Investors will be able to invest into both short term (3-Months, 6-Months, 12-Months) and long term (3-Years and 5-Years) certificates of both USD and PKR denominations.
Important Information
• The Islamic Naya Pakistan Certificate is available to non-resident or resident Pakistanis holding Roshan Digital Account in banks.
• Roshan Digital Account funding must be through funds remitted after 30th June 2020.
• Certificates cannot be rolled-over or automatically reinvested.
• These certificates can be pledged as collateral/security under applicable SBP rules.
• Certificates are non-transferrable except under relevant laws.
• The profit received on certificate will be subject to applicable law.
• The certificates are exempt from compulsory zakat deduction.
Features:
The Certificates can only be subscribed by eligible individuals through Foreign Currency Value Account (FCVA) or Non-Resident Pakistani Rupee Value Account (NRVA), being marketed as Roshan Digital Accounts (RDAs).
• Investors will be able to invest into both short term (3-Months, 6-Months, 12-Months) and long term (3-Years and 5-Years) certificates of both USD and PKR denominations.
• Amount of Investment in each tenor certificate shall be as under
• US Dollar Denominated Certificates Minimum investment of USD 5,000 with integral multiples of USD 1,000.
• PKR Denominated Certificates Minimum investment of PKR 100,000 with Integral multiples of PKR 10,000.
The Certificates of following tenors shall be yielding gross return (before the deduction of tax) as under:
| Tenor
|
USD Rate
|
PKR Rate
|
| 3 Months
|
|
|
| 6 Months
|
|
|
| 6 Months
|
|
|
| 12 Months
|
|
|
| 3 Years
|
|
|
| 5 Years
|
|
|
• The 3-Month, 6-Month and 12-Month tenor certificates can be considered as zero-coupon securities on which principal and profit shall be paid on maturity or on premature encashment (as per SBP rules).
• Whereas, 3-Year and 5-year certificates shall be profit bearing securities, on which periodic profit payment shall be paid on half-yearly basis.
Procedure for Periodic payments:
• The periodic profit payments shall be made on six (6) monthly basis only in respect of Islamic Naya Pakistan Certificate of 3-year and 5-year maturities in their respective currencies.
• The six (6) months for the periodic payment shall be determined from the date of issuance of the certificates. For example: if certificates are issued on 10th September 2020, the profit payments shall be made on 10th March 2021 and on subsequent six-monthly dates accordingly.
• In case of a holiday on the periodic profit or principal payment date, the next working day falling after the holiday will be considered the periodic profit date/principal payment date. In such case, no profit will be payable for the period of the holidays.
Premature encashment:
• Investors can have premature encashment of their certificates.
• Premature Encashment proceeds shall be worked-out such that rate of return accruing to that investor is equivalent to rate of return of the nearest shorter maturity of Certificates or such rate as may be notified by Finance Division from time to time.
• No profit shall be paid in case on encashment of certificates before completion of 3 (three) months.
Please
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for Shariah Approval.
Profit Sharing Ratio:
50%
Weightages:
| Deposit Category - PKR
|
Oct
|
Sep
|
Aug
|
| Bank
|
0.9000
|
0.9000
|
0.9000
|
| 3 Month
|
1.1000
|
1.1000
|
1.1000
|
| 6 Month
|
1.2000
|
1.2000
|
1.2000
|
| 12 Month
|
1.3050
|
1.3050
|
1.3050
|
| 36 Month
|
1.5000
|
1.5000
|
1.5000
|
| 60 Month
|
1.6000
|
1.6000
|
1.6000
|
| Deposit Category - USD
|
Oct
|
Sep
|
Aug
|
| Bank
|
0.9000
|
0.9000
|
0.9000
|
| 3 Month
|
1.1000
|
1.1000
|
1.1000
|
| 6 Month
|
1.2000
|
1.2000
|
1.2000
|
| 12 Month
|
1.3050
|
1.3050
|
1.3050
|
| 36 Month
|
1.5000
|
1.5000
|
1.5000
|
| 60 Month
|
1.6000
|
1.6000
|
1.6000
|
Expected Rate of Return:
| Deposit Category - PKR |
Oct
|
| Bank
|
8.25%
|
| 3 Month
|
9.00%
|
| 6 Month
|
10.00%
|
| 12 Month
|
11.00%
|
| 36 Month
|
12.00%
|
| 60 Month
|
13.00%
|
| Deposit Category - USD |
Oct
|
| Bank
|
8.25%
|
| 3 Month
|
9.00%
|
| 6 Month
|
10.00%
|
| 12 Month
|
11.00%
|
| 36 Month
|
12.00%
|
| 60 Month
|
13.00%
|
Declared Rates:
| Deposit Category - PKR |
Oct
|
| Bank
|
8.25%
|
| 3 Month
|
9.00%
|
| 6 Month
|
10.00%
|
| 12 Month
|
11.00%
|
| 36 Month
|
12.00%
|
| 60 Month
|
13.00%
|
| Deposit Category - USD |
Oct
|
| Bank
|
8.25%
|
| 3 Month
|
9.00%
|
| 6 Month
|
10.00%
|
| 12 Month
|
11.00%
|
| 36 Month
|
12.00%
|
| 60 Month
|
13.00%
|