The State Bank of Pakistan, expanding the availability of Conventional Naya Pakistan Certificates (NPCs) to Saudi Arabian Riyal (SAR) and UAE Dirham (AED), on Monday issued updated rates of return for NPCs.
The rate of PKR-denominated certificates, which was already offering the highest returns, has been revised upward, as 11.75% for a 3-month term, 12% for 6-month, 12.25% for 12-month, 12.50% for 3-year and 12.75% for a 5-year term, effective June 1, 2026, according to a circular issued by the SBP.
The previous rate for PKR denomination, notified in March 2026, ranged between 10.75% for a 3 month term to 11.50% for 5-year term.
The rate of return for the newly added SAR and AED certificates start at 6.50% for 3 months, going up to 7.50% for a 5-year term.
The NPCs are also available in USD, GBP and Euro denominations from a 3-month to 5-year term, with the returns on USD and GBP certificates ragging between 6.75% to 7.75%, and 6.75% to 8.00% respectively, while Euro certificates offer 4.75% to 6.25%.
According to the SBP’s Finance department circular, the agent banks shall remit the face value of the Certificates to Nostro Accounts of SBP; for SAR with Saudi National Bank of Saudi Arabia and for AED with First Abu Dhabi Bank of UAE.
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