The State Bank of Pakistan has taken another significant step toward attracting overseas investment by introducing Naya Pakistan Certificates in Saudi Riyal and UAE Dirham. The move is expected to strengthen foreign currency inflows, provide more investment flexibility for overseas Pakistanis, and further expand the reach of the Roshan Digital Account initiative.
The addition of Saudi Riyal and UAE Dirham denominated certificates reflects the growing importance of the Gulf region for Pakistan’s economy. Millions of Pakistanis live and work in Saudi Arabia and the United Arab Emirates, sending billions of dollars in remittances every year. By allowing investments in local Gulf currencies, the government aims to make investment opportunities more accessible and convenient for expatriates.
The announcement also highlights Pakistan’s continued efforts to diversify its funding sources while providing attractive returns to overseas investors. Since their launch, Naya Pakistan Certificates have become one of the most successful investment products for non-resident Pakistanis, contributing significantly to foreign exchange reserves and economic stability.
Understanding Naya Pakistan Certificates
Naya Pakistan Certificates are government-backed investment instruments designed specifically for overseas Pakistanis and foreign investors. These certificates offer competitive returns, flexible investment tenures, and the security of sovereign backing.
The investment scheme was introduced as part of broader efforts to encourage overseas Pakistanis to participate in the country’s economic development while earning attractive returns on their savings.
Unlike many traditional savings products, Naya Pakistan Certificates allow investors to place funds in multiple currencies while enjoying fixed profit rates over specified investment periods. The certificates have gained popularity because they combine safety, convenience, and profitability.
The latest expansion into Saudi Riyal and UAE Dirham is expected to further increase participation from expatriates residing in Gulf countries.
Why Saudi Riyal and UAE Dirham Were Added
Saudi Arabia and the United Arab Emirates remain among the largest sources of remittances for Pakistan. A significant portion of overseas Pakistanis live and work in these countries, making Riyal and Dirham some of the most widely used currencies among expatriate communities.
By introducing investment options in these currencies, authorities are eliminating the need for currency conversion before investment. This reduces exchange rate risks and makes the investment process more attractive.
The decision recognizes changing financial needs among overseas Pakistanis who often earn and save in Gulf currencies. Instead of converting funds into dollars or Pakistani rupees, investors can now directly invest in the currency they hold.
This convenience is expected to encourage greater participation and increase overall investment inflows through formal channels.
Profit Rates for Saudi Riyal and UAE Dirham Certificates
The newly introduced certificates offer competitive profit rates across multiple tenures.
Investments for three months provide returns of 6.50 percent.
Six-month investments offer returns of 6.75 percent.
One-year investments provide a profit rate of 7 percent.
For longer-term investors, three-year certificates offer returns of 7.25 percent, while five-year certificates provide a profit rate of 7.50 percent.
These rates place the new certificates among attractive fixed-income options for investors seeking stable returns in Gulf currencies.
Although the returns are slightly lower than those available on US Dollar-denominated certificates, they remain highly competitive compared to many international savings products.
Comparison With US Dollar Investments
US Dollar-denominated Naya Pakistan Certificates continue to offer slightly higher returns than Riyal and Dirham investments.
Three-month dollar investments provide returns of 6.75 percent.
Six-month investments offer 7 percent.
One-year certificates generate returns of 7.25 percent.
Three-year investments offer 7.50 percent.
Five-year certificates provide the highest dollar return of 7.75 percent.
The difference in profit rates is relatively small, which means many investors may prioritize convenience and currency familiarity over marginally higher returns.
For expatriates earning income in Saudi Riyal or UAE Dirham, avoiding conversion costs could offset the slight difference in returns.
Pakistani Rupee Investments Continue to Offer Highest Returns
Among all available currencies, Pakistani Rupee-denominated Naya Pakistan Certificates continue to offer the highest rates of return.
Three-month investments provide returns of 11.75 percent.
Six-month certificates offer 12 percent.
One-year investments generate returns of 12.25 percent.
Three-year certificates provide returns of 12.50 percent.
Five-year investments offer the highest profit rate at 12.75 percent.
The significantly higher returns reflect the different interest rate environment within Pakistan and are designed to attract long-term investment into the domestic economy.
For investors willing to accept currency exposure, Pakistani Rupee investments may offer substantial income opportunities.
Euro Investments Offer Lowest Returns
Euro-denominated Naya Pakistan Certificates currently provide the lowest returns among available currencies.
Three-month investments offer 4.75 percent.
Six-month certificates provide 5.25 percent.
One-year investments generate 5.50 percent.
These comparatively lower rates reflect prevailing international interest rate conditions and investment market dynamics associated with the Euro.
Despite lower returns, Euro-denominated certificates remain an important option for investors seeking diversification and exposure to European currency assets.
Growing Success of Roshan Digital Accounts
The expansion of Naya Pakistan Certificates comes amid continued growth in Roshan Digital Accounts.
Since the program’s launch in 2020, overseas Pakistanis have invested billions of dollars through the platform.
The initiative was created to provide expatriates with convenient access to Pakistan’s banking and investment sector without requiring physical presence in the country.
Through Roshan Digital Accounts, overseas Pakistanis can open bank accounts, invest in government securities, purchase certificates, and conduct financial transactions remotely.
The platform has transformed how overseas Pakistanis interact with Pakistan’s financial system.
Its success demonstrates strong demand for transparent and accessible investment opportunities.
Impact on Foreign Exchange Reserves
Foreign exchange reserves play a crucial role in maintaining economic stability, supporting imports, and ensuring confidence in the country’s financial system.
The introduction of additional currency options under the Naya Pakistan Certificate program could contribute positively to reserve accumulation.
By attracting more overseas investment, the government can strengthen its external account position and reduce dependence on short-term financing sources.
Stable foreign exchange inflows also help support exchange rate stability and improve investor confidence.
The continued growth of overseas investment instruments remains an important component of Pakistan’s broader economic strategy.
Benefits for Overseas Pakistanis
The introduction of Riyal and Dirham certificates offers several advantages for overseas Pakistanis.
Investors can now place funds directly in currencies they already use.
The process becomes simpler and more efficient.
Currency conversion costs are minimized.
Investment choices become more diverse.
Returns remain attractive compared to many international savings products.
Government backing provides an additional layer of security.
Flexible investment tenures allow investors to align investments with personal financial goals.
These features make Naya Pakistan Certificates a compelling option for expatriates seeking both income and security.
Supporting Pakistan’s Economic Development
Beyond individual investment benefits, Naya Pakistan Certificates serve a broader economic purpose.
Funds mobilized through these certificates support government financing needs and contribute to overall economic stability.
Increased foreign currency inflows help strengthen external accounts.
Greater investment participation supports confidence in Pakistan’s financial markets.
The availability of multiple currency options demonstrates efforts to modernize investment products and respond to changing investor preferences.
Such initiatives can help attract long-term capital while strengthening connections between overseas Pakistanis and the national economy.
Future Potential of Multi-Currency Investment Products
The introduction of Riyal and Dirham certificates could pave the way for further innovation in Pakistan’s investment sector.
As global financial markets become increasingly interconnected, investors are seeking products that offer flexibility, diversification, and convenience.
Multi-currency investment instruments allow investors to manage risk more effectively while taking advantage of opportunities across different regions.
The success of these certificates may encourage additional product development aimed at overseas Pakistanis and international investors.
Future expansions could include new investment structures, digital investment platforms, and enhanced financial services tailored to expatriate communities.
Conclusion
The launch of Saudi Riyal and UAE Dirham denominated Naya Pakistan Certificates marks an important milestone in Pakistan’s efforts to attract overseas investment and strengthen foreign currency inflows. The new investment options provide greater flexibility for expatriates, particularly those residing in Gulf countries where these currencies dominate daily financial transactions.
With competitive profit rates, sovereign backing, and seamless integration with the Roshan Digital Account framework, the certificates are expected to attract substantial interest from overseas Pakistanis. Their introduction reflects a broader strategy to deepen financial inclusion, enhance investment opportunities, and strengthen economic ties with the global Pakistani diaspora.
As Pakistan continues to expand its financial offerings and modernize its investment landscape, the addition of Riyal and Dirham certificates demonstrates a commitment to meeting investor needs while supporting long-term economic growth. The move is likely to further strengthen the success of the Naya Pakistan Certificates program and reinforce its role as a key source of foreign investment for the country.
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