No. The Government of Pakistan (GOP) is the issuer and State Bank of Pakistan (SBP) is the primary custodian of Naya Pakistan Certificates. HBL is only acting as a distributor of these certificates in Pakistan.​

​Individual Non-Resident Pakistanis are eligible to can either individually or jointly purchase the Certificates through their Roshan Digital Accounts.

Resident Pakistanis who have declared assets abroad with FBR can also invest in USD, GBP& EURdenominated NPCs. To do so, they can open a Roshan Digital Account in foreign currency by visiting a bank branch in Pakistan

The Certificates are available in conventional form and also in Shariah compliant form.​

The Certificates are issued in USD, EUR, GBP and PKR. ​

The Certificates are issued for three (03), six (06), twelve (12) months, three years (3) and five (5) years maturity​

The 3-Month, 6-Month and 12-Month tenor certificates are zero-coupon securities on which principal and profit shall be paid on maturity or on premature encashment. Whereas, 3-Year and 5-year certificates shall be coupon securities, on which periodic profit payment shall be paid on half-yearly basis.

​The minimum investment amount for the respective NPCs is as follows:

USD, GBP & EUR denominated certificates: PKR 1,000 with integral multiples of PKR 500 / PKR1,000​

​PKR denominated certificates: PKR 10,000 with Integral multiples of PKR 1,000

​The funds for investment in the Certificates must be remitted from abroad in the investor’s Roshan Digital FCY Account (PKR or FCY) as per prevailing regulations and processes, provided that funds remitted in the investor’s Roshan Digital Account after 30th June, 2020 can be used for investment in the Certificates.

​For investments, Roshan Digital PKR accountholders can invest in PKR denominated investments. Similarly, Roshan Digital FCY Accountholders can invest in USD, GBP & EUR denominated investments.

The rates of return per annum are as follows:​

Note: For Islamic Naya Pakistan Certificates, actual profit rates will be calculated in line with the Islamic principle of Mudarabah, based on the actual financials of the month.

Profit as well as principal repayment shall be made directly to the customers’ own account​

In case of customer death, the payment of principal and profit, if any, shall be paid to the legal heirs of the deceased customer in accordance with a valid succession certificate or equivalent documentation issued by a court of competent jurisdiction under applicable laws​

​The Certificates are not transferrable except if required under the relevant laws.

The Certificates cannot be auto reinvested or rolled over after maturity date. ​

The Certificates shall be pledgeable as security for raising financing in Pakistan subject to such conditions as may be prescribed by SBP.​

​Early encashment is allowed, and profit of broken period will be calculated at the profit rate of the nearest shorter tenor (e.g. 12 months’ certificate encashed in 10th month, profit will be calculated @ profit rate of 6 months’ certificate).

​There is no profit on encashment before initial three months. Premature encashment of investment is allowed. Partial encashment is not allowed.

​The profit of the Certificate is subject to deduction of 10% (ten) Withholding Tax on profit at source as a full and final discharge of tax liability. There is no requirement for submission of income tax return filings in Pakistan for NRPs in respect of profit earned on these certificates.

​The Certificates are exempt from compulsory deduction of zakat under section 3, Chapter II (Charge and collection of Zakat) of Zakat and Ushr Ordinance, 1980.

​The Certificates issued are in scrip less form or any other form or format as approved by the Finance Division of Pakistan from time to time in consultation with SBP. i.e. no physical certificate is issued against the same.