Pakistan's new UAE dirham certificate offers earn up to 7.5% profit
Pakistani expatriates in the UAE would receive their earnings in dirhams and now aid payments without converting them first, which means they can invest back home.
SBP has increased the scope of Naya Pakistan Certificates (NPCs) to UAE dirham and Saudi riyal as well from June 1. The move clears a long-standing obstacle for investors in the Gulf, who had to move funds through dollar or rupee accounts.
Returns on Dirham and Riyal Certificates
Returns for the dirham-denominated certificates start at 6.50 per cent on a three-month term and increase to 7.50 per cent over five years.
According to the Associated Press of Pakistan, dirham investments entered through First Abu Dhabi Bank on behalf of SBP's specified Nostro accounts, while Saudi riyal investment remains with the Standard National Bank.
Major Benefit for UAE-Based Pakistanis
The UAE hosts over two million Pakistanis who come to live and work in the gulf state: an enduring testament to historically close ties between South Asian Muslims.
The way the Pakistan government is offering dirham-based certificates is literally aimed at the community in the UAE. Stavridis: The new choice gives expats a vehicle to earn fixed returns denominated in a familiar currency, without having exchange-rate risk on the principal.
Higher Returns on Rupee-Denominated Certificates
Alongside the new currency options, the SBP has increased returns on rupee-denominated NPCs.
The revised rates, effective June 1, are:
11.75% for a 3-month term
12.00% for a 6-month term
12.25% for a 12-month term
12.50% for a 3-year term
12.75% for a 5-year term
These rates are higher than the previous rates announced in March 2026, which ranged from 10.75% to 11.50%.
Other Currency Options Remain Available
Naya Pakistan Certificates continue to be available in:
US Dollars
Returns ranging from 6.75% to 7.75%
British Pounds
Returns ranging from 6.75% to 8.00%
Euros
Returns ranging from 4.75% to 6.25%
Background of the Naya Pakistan Certificates Scheme
The NPC scheme was one of the Pakistan government's initiatives to reinforce financial relations with overseas Pakistanis.
The project can be traced back to the Pakistan Banao Certificate (PBC) introduced in 2019. The programme was tailored to non-resident Pakistanis particularly in the Gulf region, was conducting dollar-denominated returns and assisting in strengthening Pakistan's foreign earnings reserves.
Encouraging Formal Remittance Channels
Officials in Pakistan have long urged overseas citizens to make remittances through proper banking channels, saying that official transfers bolster economic transparency and strengthen the overall economy of the country.
The issuance of dirham-denominated certificates has also streamlined the process by allowing investors to invest directly without having to convert their funds into a currency first.
Minimum Investment Requirement
The lowest minimum investment of 1,000 currency units has been maintained for all foreign currency external certificates, including new ones linked to the UAE dirham and Saudi riyal.
Comments