The State Bank of Pakistan (SBP) has the latest financial update for overseas nationals settled in the Gulf Cooperation Council (GCC) region. The government is scaling up its flagship sovereign investment initiative with the official release of Naya Pakistan Certificates (NPCs) in Saudi Riyal (SAR) and UAE Dirham (AED).
Earlier these certificates were available only in USD, UK GBP, EUR and PKR currencies. This new extension eliminates foreign exchange conversion losses for millions of non-resident Pakistanis (NRPs) living in Saudi Arabia and the United Arab Emirates. Devised as a secure, government-backed channel, this initiative simplifies the Naya Pakistan Certificates Investment process by allowing expatriates to invest their hard-earned local savings directly into Pakistan’s economy while earning premium returns.
Profit Rates Offered on Dirham and Riyal Certificates
According to the official regulatory framework issued by the central bank, the profit rate structure for both AED and SAR certificates remains identical. Investors have the flexibility to lock in their funds for short-term or long-term tenors ranging from 3 months to 5 years. The annualized rates of return are structured as follows:
| Maturity Period | Annualized Profit Rate |
| 3-Month | 6.50% |
| 6-Month | 6.75% |
| 12-Month (1-Year) | 7.00% |
| 3-Year | 7.25% |
| 5-Year | 7.50% |
Minimum Investment Threshold and Banking Channels
The investment minimum requirements set by the SBP for the scheme are very gentle and favor both small-scale investors as well as high-net-worth individual investors in the scheme:
Today’s investors are able to start their investment journey beginning with minimum investments of AED 1,000/AED 1,000 SAR.
Incremental tiers: Further investments can easily be made at multiples of 500 units (e.g., 1,500, 2,000, 2,500 and so on).
Clearing and Settlement Transits: To maintain maximum transparency, the SBP has designated top-tier global correspondent networks. The Saudi Riyal funds are cleared via the Saudi National Bank (SNB), whereas the UAE Dirham transactions pass through designated settlement channels at the First Abu Dhabi Bank (FAB).
Guide to Investing in SAR and AED Certificates
The onboarding process for non-resident citizens is completely paperless, digital, and can be completed remotely within minutes from anywhere across the globe.
Open a Roshan Digital Account (RDA)
In absence of an active RDA, visit any major commercial bank in Pakistan (HBL, Meezan Bank, Bank Al-Falah and Allied Bank) and go to their portal or their mobile application. Provide your National Identity Card for Overseas Pakistanis (NICOP), your passport, Overseas residence status and proof of income. Most often accounts are confirmed and activated within 48 hours of business.
Remit Dirhams or Riyals to Your Account
Log into your local banking application in the UAE or Saudi Arabia and initiate an international fund transfer to send AED or SAR directly to your corresponding Roshan Digital Account in Pakistan.
Access the Investment Sub-Portal
Once the funds reflect in your account balance, log into your Pakistani bank’s internet banking portal. Navigate to the “Investments” tab and select “Naya Pakistan Certificates”. Choose your preferred currency option (either AED or SAR).
Choose the Framework and Tenor
Select your investment timeline from 3 months to 5 years. At this stage, you will be prompted to select your investment philosophy. You can opt for the Conventional mode or the Shariah-Compliant mode (based on Islamic Islamic Mudarabah principles).
Finalize and Confirm
Type in your desired investment value (minimum 1,000 units) and review the terms. Upon submission, the designated sum will be instantly routed from your RDA balance into the government registry, and you will receive a digital certificate from the State Bank confirming your sovereign investment.
Key Benefits, Tax Immunities, and Early Repatriation
A primary advantage of this Naya Pakistan Certificates Investment option is the sovereign guarantee provided by the Government of Pakistan, classifying it as a zero-default risk investment. Additional fiscal benefits include:
- Streamlined Withholding Tax: Non-resident investors are not required to file any income tax returns in Pakistan. A flat 10% withholding tax is deducted directly from the profit payout as a final liability, and the investments are completely exempt from compulsory Zakat deductions.
- Full Repatriation Rights: There are no exit controls. Investors can move their principal capital along with the earned profit back to their foreign bank accounts in the GCC at any moment, without needing prior approval from the central bank.
- Premature Encashment Facility: Should an emergency arise before the maturity date, investors can opt for early encashment. The premature breakout settlement rates are calculated dynamically based on the SBP’s standard operational guidelines for early termination.
