Rates of Naya Pakistan certificates revised upwards

The government has notified an increase in Naya Pakistan and Islam Naya Pakistan Certificates yield rates on all maturities of USD Certificates and GBP Certificates.

In a brief statement, the Ministry of Finance said that Non-Resident Pakistanis (NRPs) and eligible Pakistani residents with Foreign Currency Value Accounts (FCVAs) can safely invest their money with enhanced returns.

According to the notification, the rates of return of USD Certificates and GBP Certificates increased by up to 150 basis points and 125 basis points per second respectively.

The 3-month, 6-month and 12-month Euro NPC rates of return have been revised downwards, while there has been an increase in the rates of return for 3- and 5-year NPCs.

However, there was no change in NPCs’ performance rates expressed in PKR.

Rate of returns: Naya Pakistan Certificates                                                                                
USD (Annualized)
Old Rates5.50%6.00%6.50%6.75%7.00%
New Rates7.00%7.20%7.50%8.00%8.00%
Change (bps)150120100125100
GBP (Annualized)
Old Rates5.25%5.50%5.75%6.25%6.50%
New Rates5.50%6.00%7.00%7.50%7.50%
Change (bps)2550125125100
Euro (Annualized)
Old Rates4.75%5.00%5.25%5.505.75%
New Rates4.00%4.50%5.00%6.506.50%
Change (bps)(75)(50)(25)10075
Rate of returns: Naya Pakistan Certificates                                                                                

Naya Pakistan Certificates (NPC) are government instruments in USD, PKR, Euro and British Pound issued by the Government of Pakistan. NPCs offer risk-adjusted returns over different durations. They are available in both conventional and Shariah-compliant versions and are managed by the State Bank of Pakistan.

For Islam Naya Pakistan certificates, the actual profit rates are calculated according to the Islamic principle of Mudarabah, based on the actual financial data of the month.

Since the launch of NPCs in 2020, total inflows have been recorded at $1.77 billion under the contractual NPC inflows of $1.72 billion made under Islamic Naya Pakistan certificates.



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