Pakistan Banao Certificate scheme for investment from overseas Pakistanis: Prime Minister Imran Khan inaugurated the ‘Pakistan Banao Certificate’ plan on Thursday to attract Pakistanis investment abroad to strengthen the national economy.
Pakistan Banao Certificates is the first initiative of its kind for Pakistani overseas. They are given a unique opportunity to safely invest their savings with higher profits than countries in the United States, Europe and the Gulf, while helping build Pakistan.
Pakistan Banao Certificate scheme for investment from overseas Pakistanis
It is a revolutionary initiative of the Pakistani government to allow Pakistanis abroad to buy the Certificates and their investments will not only lead Pakistan to prosperity and prosperity, but they will also benefit.
Pakistanis abroad can make a profit from their investment in certificates.
Pakistan Banao Certificates is a US-denominated retail instrument for Pakistanis that have bank accounts abroad. The subscription process is easy and completely automatic.
PBC is offered for subscription through a specially designed web portal. Investors first register on the portal and give their investment and bank account details for successful registration. Certificates are issued electronically to investors upon receipt of funds in the Bank of Pakistan provided on the portal. The investor receives confirmation of issuing the certificates through the electronic mail and updating his account in the portal. Investors can view the status of their application by accessing the web portal by their respective username and password.
Holders of one or more of the following documents and have their own bank account abroad may subscribe to the PBC.
1.Pakistani person with ID.
2.Pakistani person with a national identity card for Pakistanis (NICOP).
3.Owners of the Pakistan Origin Card (POC).
Lowest Investment Amount:-
The minimum investment amount is USD 5000 or more in the integral multiple of US $ 1,000 with no maximum limit.
1.The win rate in the three-year plan will be 6.25 percent payable every two years
2.The rate of profit in the five-year plan will be 6.75 percent payable every two years
Transfer of Funds:-
The investor will return the required investment amount from his own account outside of Pakistan to the New York SBP account with the National Bank of Pakistan (NBP) to be notified to the investors when the investment details in the portal are completed.
Investors are requested to ensure that the funds that reach the SBP account in NBP New York are equal to the expected investment amounts, minus bank charges, if any.
The PBCs are a written instrument registered in the General Accounting Account (SGLA) maintained in the State Bank of Pakistan (SBP). The PBC issued in this way will reside in the Investor’s Security Account (IPS) portfolio of the investor to track each investor’s investment.
The premature collection in Pak Rupees can be done at any time without incitement or sanction. In case of collection in USD within the first year of issue, a penalty of 1 percent will be imposed.
2.Expiration date in USD as well as PKR. 3.The maturity of PCR has an additional 1% incentive in the final premium.
4.You can lift at any time; However, the US $ within a year’s issue of the issue is a one percent penalty.
5.The payment request will also be sent online by accessing the PBC portal exchange module
6.Periodic earnings and redemption proceeds will be sent to the designated investors’ accounts at the time of the investment.