Connect with us


Sale of Naya Pakistan certificates begins with agent banks



ISLAMABAD – The sale of Naya Pakistan Conventional Certificates (NPCs) started on Monday through agent banks in order to attract investments from overseas Pakistanis to increase foreign exchange reserves.

In a tweet, the Department of Finance said that Roshan digital account holders from UBL, HBL, MCB, Alfalah, Standard Chartered and Samba Bank can subscribe to NPCs by visiting their respective bank’s NPC page.

The ministry added that the Sharia-compliant version will also arrive very soon. Prime Minister Imran Khan last week launched the ‘Roshan Digital Account’, an initiative that will enable millions of Pakistanis overseas to undertake remittances, bill payments and investing activities. in the country.

The Roshan Digital Account is a major initiative of the State Bank of Pakistan (SBP), along with eight other commercial banks operating in the country. These banks will provide innovative banking solutions to millions of Non-Resident Pakistanis (PNRs) and for the first time in Pakistani history they will be able to open an account at any bank through a fully digital and online process. , without having to visit any bank, embassy or consulate. To open an account, all documentation requirements will need to be met. Once completed, it will take 48 hours to open the account. The client can choose to open an account dominated by the rupee, a foreign currency or both and the funds in the account will be fully repatriable, without any regulatory approval.

According to the SBP, the certificates would be offered digitally through the web links of eight agent banks.

Investors would have the option of subscribing to either rupee / dollar denominated certificates with terms of 3, 6, 12 months, 3 years and 5 years. Investors would be entitled to make a minimum investment of $ 5,000 with whole multiples of $ 1,000 in dollar denominated certificates. For certificates denominated PKR, the amount will be Rs 100,000 with full multiples of Rs 10,000.

These debt certificates would offer yields of 5 to 7 percent on various tenor certificates denominated in rupees.

Yields on dollar denominated certificates would be 9-11%.

“Certificates with a duration of 3 months, 6 months and 12 months will be single coupon securities on which the principal and the profit will be paid at maturity or upon premature collection. Whereas the 3-year and 5-year certificates are coupon securities, on which the periodic payment of profits will be paid on a semi-annual basis, ”he said.

Periodic coupon payments would be made on a semi-annual basis only for 3-year and 5-year maturity certificates in their respective currencies, according to the SBP.

Investors may experience premature redemption of their certificates.

The proceeds of premature redemption would be calculated such that the rate of return accruing to that investor is equivalent to the rate of return on the shorter maturity of the certificates or at a rate which may be notified from time to time by the division. finances. However, the central bank has authorized that no profit will be paid if the certificates are redeemed before the completion of three months.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content