Govt Jacks Up Profit Rates on Islamic Naya Pakistan Certificates

The Finance Division has revised up the rates of return for Pakistan Rupee-denominated and other currency-sponsored Islamic Naya Pakistan Certificates (INPCs) over different maturities.

According to a notification issued by the State Bank of Pakistan (SBP), the rate of return for PKR-denominated INPCs with a maturity of three months has been revised upwards from the previous 9.5 percent to 15.00 percent while certificates with a maturity period of six months have had their rates increased from 10.00 percent to 15.25 percent.

The rate of return for a period of one year has been revised up from 10.50 percent to 15.50 percent while rates for 3-year and 5-year INPCs have been increased to 14 percent and 13.50 percent when the previous rates of return on each were 10.75 percent and 11 percent, respectively.

It is pertinent to mention here that the government has already revised the rates of return for US dollar, British Pound, and Euro-denominated NPCs with different maturities for resident Pakistanis having Roshan Digital Accounts.

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