In a first move of its kind for the overseas Pakistanis, the government of Pakistan has launched Pakistan Banao Certificates (PBC). The Certificate is the first sovereign retail instrument offered by the Government of Pakistan (GoP) that provides overseas Pakistanis a chance to contribute to their country’s development as well as earn substantial returns.
Announcing the launch of the scheme in Islamabad on Thursday, the Prime Minister, Imran Khan stated:
“The government has given an attractive return on these certificates and it would not only help the Pakistani diaspora to earn reasonable profit from these certificates but also extend a helping hand towards reviving the national economic at this critical juncture.”
The Pakistan Banao Certificates scheme has been devised to attract investment from overseas Pakistanis to help strengthen the national economy. Through the scheme the overseas Pakistanis who want to take part in improving the conditions of the motherland, get a unique opportunity to invest their savings without a worry. The promised profit rates are higher than offered in United States, Europe, Gulf countries, and this is in addition to the satisfaction of contributing to the national economy.
The PBCs are available for 3 years and 5 years maturity. In case of three years plan, the profit rate will be 6.25 percent payable bi-annually; while for the five years plan, the profit rate will be 6.75 percent payable bi-annually.
What is Pakistan Banao Certificates scheme And How Can You Register
Guaranteed by the Government of Pakistan, the Pakistan Banao Certificates scheme offers the overseas Pakistanis to earn profits from their investment in the certificates. The Overseas Pakistanis buy the Certificates and their investments will not only adds to Pakistan’s foreign reservoirs but they also get profits from it.
The subscription model provided for investment in PBC is through a specially designed Web-Portal. It is easy and completely automated.
- Register yourself on the portal in the first step and
- Give your investment and bank account details on successful registration.
- PBCs are issued electronically on receipt of funds in State Bank of Pakistan Account given on the portal.
- You receive confirmation of the issuance of the certificates both through email and updation of account on the portal.
- You can view the status of your application by accessing the web-portal through your respective User ID and Password.
Eligible Investors
The holders of any one or more of following documents and having own bank account abroad, are eligible to subscribe the PBCs.
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- Pakistani individual having Computerized National Identity Card (CNIC).
- Pakistani individual having National Identity Card for Overseas Pakistanis (NICOP).
- Holders of Pakistan Origin Card (POC).
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Minimum Investment Amount
Minimum investment amount is USD 5,000 or higher in the integral multiple of US$1,000. There is no maximum limit for investment.
Benefits
- Profit applied on PBC is on bi-annual basis
- PBC maturity can be availed in USD as well as PKR
- PKR maturity of PBC has an added incentive of 1% on the final premium
- PBC can be en-cashed at any time. The USD encashment within one year of issuance, however, entails 1 percent penalty
- PBC encashment application can also be submitted online
- PBC profit and redemption proceeds shall be periodically delivered to the investors’ accounts