Regulatory Alerts2026-03-24 | FD Circular Letter No.02Standard Operating Procedures (SOPs) for Investment in Conventional and Shariah Compliant Naya Pakistan Certificates (NPCs)
The Government of Pakistan’s Finance Division has issued amended Naya Pakistan Certificate Rules to expand investor eligibility for both conventional and Shariah-compliant certificates. The revised criteria permit non-resident natural and juridical persons holding Foreign Currency Value, Foreign Currency Business Value, Non-Resident Pakistani Rupee Value, or Non-Resident Business Rupee Value accounts to purchase these instruments. All designated agent banks must implement these updated standard operating procedures and ensure strict compliance with the expanded eligibility framework.
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