ISLAMABAD, Pakistan: The Pakistan Tehreek-e-Insaf (PTI)-led federal government launched “Pakistan Banao Certificates” on Thursday (January 31, 2019) to attract investment from eight million overseas Pakistanis to help strengthen the national economy.
In this regard, the Launching Ceremony of Pakistan Banao Certificates (PBCs) was held in Islamabad today in which Prime Minister Imran Khan addressed as the chief guest.
The Pakistan Banao Certificates is a revolutionary initiative of the government of Pakistan to enable the Overseas Pakistanis to buy the Certificates, and their investments will not only drive Pakistan towards progress and prosperity but also they’ll be able to get profits from it.
It is the first initiative of its kind for Overseas Pakistanis as they get a unique opportunity to safely invest their savings with higher profits rates than America, Europe, Gulf Countries while helping build Pakistan.
The Salient Features of Pakistan Banao Certificates are as under:
The PBC is being offered for subscription through a specially designed Web-Portal. The investors first register themselves on the portal and give their investment and bank account details on successful registration. The certificates are issued to the investors electronically on receipt of funds in State Bank of Pakistan (SBP) Account given on the portal. The investor receives confirmation of the issuance of the certificates both through email and updation of their account on the portal. The investors can view the status of their application by accessing the web-portal through their respective User ID and Password.
The holders of any one or more of following documents and having own bank account abroad, are eligible to subscribe the PBCs.
- Pakistani individual having Computerized National Identity Card (CNIC).
- Pakistani individual having National Identity Card for Overseas Pakistanis (NICOP).
- Holders of Pakistan Origin Card (POC).
Minimum Investment Amount:
Minimum investment amount is US$ 5,000 or higher in the integral multiple of US$ 1,000 with no maximum limit.
Transfer of Funds:
The investor will remit the intended investment amount from his/her own account outside Pakistan to the SBP account with National Bank of Pakistan (NBP) New York to be notified to the investors on completion of investment details on the portal.
Investors are requested to ensure that the funds reaching the SBP account with NBP New York are equivalent to their intended investment amounts net of bank charges, if any.
Type of Instrument:
The PBCs is a scrip-less instrument registered in the Securities General Ledgers Account (SGLA) maintained at SBP. The PBCs so issued will be residing in an Investor Portfolio Security Account (IPS) of the investor, so as to keep track of investment of each individual investor.