Govt revises up Islamic Naya Pakistan Certificates’ rates of return

ISLAMABAD: The federal government on Tuesday revised up the rates of return for various currencies denominated Islamic Naya Pakistan Certificates over different maturities.

According to a notification issued by the Finance Division, the rate of return for US dollar denominated Islamaic Naya Pakistan Certificates (INPCs) with maturity of three months has been revised up from previous 5.5 percent to 7.00pc while that with maturity period of six month has been raised from 6.00pc to 7.20pc.

Government of Pakistan, Finance Division has revised the rates of return on Islamic Naya Pakistan Certificates (INPCs). pic.twitter.com/ZHXfp31yB6

— SBP (@StateBank_Pak) February 7, 2023

The rate of return for a period of one year has been revised up from 6.5pc to 7.5pc while that for a period of three years and five years has been increased to 8pc whereas the previous rate of return was 6.75% and 7.00% respectively.

Meanwhile, the rate of return for PKR denominated Islamic Naya Pakistan Certificates with maturity of three months has been revised up from previous 9.50 percent to 15.0pc while with maturity period of six month has been raised from 10.00pc to 15.25pc.

Moreover, the rate of return for a period of one year has been revised up from 10.50pc to 15.50pc while that for a period of three years and five years has been increased to 14pc and 13pc, respectively.

Similarly, the new rates for GBP denominated INPCs have been revised up to 5.50pc for a maturity period of three months, 6.00pc for six months, 7.00pc for one year and 7.5pc each for a period of three years and five years respectively.

For Euro denominated INPCs, the government has revised up the rates of returns to 4.00pc for a maturity period of three months, 4.50pc for six months, 5.00pc for one year and 6.5pc each for a period of three years and five years respectively.