In Pakistan, there are many programs are running for all the big investors and they are benefitting from it. One of them is the Pakistan Banao Certificate. It is a big opportunity for the overseas Pakistanis.
This scheme was regulated by former Prime Minister Imran khan to grab the attention of the overseas investor. For the expansion of investments at the retail level, the former Government introduced this scheme.
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What is Pakistan Banao Certificate (PBC)
According to PBC’s official website: it “opens avenues of investment for those retail level investors, overseas Pakistanis who are unable to take exposure in the sovereign bonds of the Government of Pakistan due to their higher level of minimum investment requirement.”
The purpose behind this scheme is to grow Pakistan’s economy by using investments by the overseas. When the dollar comes into the country, the economy of Pakistan will boost. Chances of employment will grow for the residents of Pakistan.
So the former government decided to launch a scheme through this retail level investment. The overseas investors can easily invest in Pakistan via these certificates.
Duration of Maturity and Profit Rates
Pakistan Banao Certificates Scheme is based on a 3 to 5-year of maturity with a high rate of profit. Profit is paid from 6.25% to 6.75% semiannually.
Benefits of Pakistan Banao Certificates for Overseas Pakistanis
The government will provide the perks of this scheme to overseas Pakistanis that are given below to attract them:
- Profit on a semiannual basis
- Investment in USD as well as PKR.
- PKR maturity has an added incentive of 1%.
- Can be encashed at any time; however, encashment in USD within one year of issuance entails a 1 percent penalty.
- Encashment applications can also be submitted online by accessing the Redemption module of the Pakistan Banao Certificate portal
- Periodic Profit and redemption proceeds will be sent to the investors’ accounts designated at the time of investment.
Who Can Apply For Pakistan Banao Certificate
According to the official web portal of PBC, Overseas Pakistanis can apply for this scheme through their Computerized National Identity Card (CNIC) and National Identity Card for Overseas Pakistanis (NICOP).
All those overseas Pakistanis who are living abroad and holding proper bank accounts can invest in this scheme via the online digital portal.
Subscription for Pakistan Banao Certificate Program
Subscription for the Pakistan Banao certificate program is very simple and convenient. Overseas Pakistanis can easily register themselves via an online digital portal. Following is list of all steps:
- Log in to the official website of the Pakistan Banao certificate.
- Click on the button “apply”.
- Sign up by providing all your detail, email address, documents, identity card, and further details.
- After registration, mention your bank details and the type of investment.
- Transfer of funds is required from a foreign bank to the state bank of Pakistan (SBP) established in the New York.
- After depositing the funds, a digital certificate is issued to a user via email and every certificate holder gets a unique user number.
This is the online web portal through which you can track your application status by using your user account. No other organization is providing these services in Pakistan or outside of Pakistan.
Minimum Investment Requirement
To invest in this scheme an overseas Pakistani needs a minimum investment of 5000 US dollars, without having a maximum limit. As we mentioned above, an investor has to send the amount to this scheme in any country other than Pakistan.
To wrap up the whole conversation, we can say that the former government announced the Pakistan Banao certificate scheme for the overseas Pakistanis to invest in Pakistan at the retail level.
Moreover, Government runs the Pakistan Banao Certificate scheme to grow the Pakistan economy and take it to the height. The biggest benefit of this scheme is that the small investors can also invest in Pakistan and can get high profits via investing in Pakistan Banao Certificate.