Regulatory Alerts2026-03-26 | FD Circular Letter No.03Standard Operating Procedures (SOPs) for Investment in Conventional Naya Pakistan Certificates (Certificates)
This notification supersedes previous regulations to establish updated minimum denominations and rates of return for Naya Pakistan Certificates denominated in US Dollars, British Pounds, and Euros. The issuance framework specifies tiered interest rates ranging from three-month to five-year tenors across these three currencies. These revised rates of return for Naya Pakistan Certificates become effective immediately upon the date of the SBP Circular Letter.
GOVERNMENT OF PAKISTAN FINANCE DIVISION (HRM Wing) NOTIFICATION
Islamabad, the 26th March, 2026
S. R. O. 536(I)/2026.— In pursuance of the powers conferred by rules 8 and 12 of the Naya Pakistan Certificates Rules, 2020 read with S.R.O. 483(I)/2026 dated the 16th March, 2026, and in supersession of its Notification No. S.R.O. 325(I)/2026 dated the 13th day of February, 2026, the Finance Division is pleased to notify that the certifications in the currency as specified in column (2) of the Table below shall be issued with corresponding minimum denomination of the currency as specified in column (3) of that Table and shall have rate of return as specified in columns (4), (5), (6), (7), and (8) respectively of the said Table, namely:-
| Sr. No. | Currency | Minimum Denomination | 3 months | 6 months | 12 months | 3 year | 5 year |
|---|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) |
| 1. | US Dollars | 1,000 US Dollars | 6.75% | 7.00% | 7.25% | 7.50% | 7.75% |
| 2. | GBP | 1,000 GBP | 6.75% | 7.25% | 7.50% | 7.75% | 8.00% |
| 3. | Euro | 1,000 Euro | 4.75% | 5.25% | 5.50% | 6.00% | 6.25% |
The above rates of return on Naya Pakistan Certificates (NPC) shall become effective from the date of SBP Circular Letter.
[No. F.3(8-A)EF(FCM)/2020]
HAMZA AKBAR SHARIFZADA, Section Officer(EF-Commercial).