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JS / Roshan Digital Account / Islamic Naya Pakistan Certificate

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Invest in INPC (English)

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Invest in INPC (Urdu)

INPC Profit Rates
Sr No. Currency Minimum Denomination Rate of Return
(1) (2) (3) (4)
– – – Three Months Six months Twelve months Three years Five years
1 US Dollars 1,000 with integral multiples of 500 7.00% 7.20% 7.50% 8.00% 8.00%
2 Pak Rupees 10,000 with integral multiples of 1,000 15.00% 15.25% 15.50% 14.00% 13.50%
3 EURO 1,000 with integral multiples of 500 5.50% 6.00% 7.00% 7.50% 7.50%
4 GBP 10,000 with integral multiples of 1,000 4.00% 4.50% 5.00% 6.50% 6.50%
Minimum Amount of Investment
FCY Denominated Certificates USD, GBP & Euro: Minimum Investment of 1,000 with integral multiples of 500/-
LCY Denominated Certificates PKR: Minimum Investment of 10,000 with integral multiples of 1,000/-

*Amount of investment in each tenor certificate shall be as above

Key Features
Offered in multiple currencies, PKR, USD, GBP and EUR
Fully and easily repatriable
No Zakat deduction
Premature encashment option

1. What are Islamic Naya Pakistan Certificates (INPCs)?

A: Islamic Naya Pakistan Certificates (INPCs) are Shariah-compliant investment instruments issued by the State Bank of Pakistan (SBP) based on Mudarabah. Under this arrangement, the holder of the certificate is an investor (Rab-ul Maal), and Islamic Naya Pakistan Certificate Company Limited (INCCPL) is the Manager (Mudarib) of the funds deposited by the investors. These funds are then invested in a deposit pool comprising of Shariah-compliant transactions. The return is shared between the investors and INCCPL as per the pre-determined profit-sharing ratios and weightage.

2. Who can invest in INPCs?

A: Overseas Pakistanis maintaining JS Roshan Digital Account are eligible to invest in Islamic Naya Pakistan Certificates. Resident Pakistanis who have declared assets held abroad and are maintaining a JS Roshan Digital Account are eligible for Islamic Naya Pakistan Certificates. PKR denominated INPCs can be purchased from JS Roshan Digital PKR Account. USD, GBP & EUR denominated INPCs can be purchased from JS Roshan Digital FCY Account.

3. In which currencies are INPCs available?

A: INPCs are available in PKR & FCY currencies (USD, EUR & GBP).

4. What is the tenure of investment for INPCs?

A: INPCs are available for the following tenures: 3 Months, 6 Months, 12 Months, 3 Years, 5 Years.

5. What is the minimum amount required to invest in INPCs?

A: For PKR: Minimum Investment of 10,000 with integral multiples of 1,000/-. For USD, GBP & Euro: Minimum Investment of 1,000 with integral multiples of 500/-.

6. What is the profit payment frequency of INPCs?

A: The profit payment frequency of INPCs is as follows:

INPC Profit Rates
Sr No. Currency Minimum Denomination Rate of Return
(1) (2) (3) (4)
– – – Three Months Six months Twelve months Three years Five years
1 US Dollars 1,000 with integral multiples of 500 7.00% 7.20% 7.50% 8.00% 8.00%
2 Pak Rupees 10,000 with integral multiples of 1,000 15.00% 15.25% 15.50% 14.00% 13.50%
3 EURO 1,000 with integral multiples of 500 5.50% 6.00% 7.00% 7.50% 7.50%
4 GBP 10,000 with integral multiples of 1,000 4.00% 4.50% 5.00% 6.50% 6.50%

7. What will be the rate of return?

A. All Investors shall be assigned weightages (profit distribution ratio for weighted average investment) based on the tenure of investment held by them as per the scheme parameters, for the purpose of calculation of profit. The weightages applicable to all account(s) shall be announced before the start of the month and be available at SBP’s & Bank’s website. Moreover, weightages shall be announced before the beginning of the month and shall not be changed during the period.

8. Will Zakat be applicable on INPC?

A: The Certificates shall be exempted from compulsory deduction of Zakat under section 3, Chapter II (Charge and collection of Zakat) of Zakat and Ushr Ordinance, 1980.

9. How can I invest in INPCs?

A: Investor will submit the INPCs request via JS Bank’s web page/branch and provide investment details including account no, tenure, currency and amount to be invested. Funds will be debited from customer’s JS Roshan Digital Account for INPC investment.

10. Will I be taxed if I invest in INPC?

A: The profit on INPCs will be subject to deduction of withholding tax in accordance with the applicable laws.

11. Is a rollover facility available in INPCs?

A: The certificates shall not be auto reinvested or rolled over after maturity date.

12. Are INPCs transferrable?

A: The certificates shall not be transferrable except if required under the relevant laws.

13. Can I pledge INPCs for financing?

A: The certificates can be pledged as security for raising Shariah-compliant financing in Pakistan subject to such conditions as may be prescribed by SBP.

14. Can I encash my investment in INPCs before maturity?

A: Certificate holders can make early redemption/premature encashment of their INPCs after one month of issuance. Profit/proceeds for premature encashment requests made after one month and before three months will be redeemed at a discounted price by applying a discount in the profit rates for that category. Profit/proceeds of premature encashment made after three months shall be worked out based on the weightages applicable to the nearest completed tenures.

15. How will I receive profit on my INPCs?

A: The investment amount and applicable profit or loss shall be paid to the investor’s designated bank account i.e., JS Roshan Digital Account.
In case of a holiday, the next working day falling after the holiday will be considered the periodic profit date/principal payment date. No profit will be payable for the period of the holidays.

16. How will the funds received in Mudarabah pool be utilized?

A: The funds received from investors shall only be used for extending Shariah-compliant financing to the Federal Government.

17. What will happen in case of death of certificate holder?

A: In case of customer’s death, the payment of principal and profit, if any, shall be paid to the legal heirs of the deceased customer in accordance with a valid succession certificate or equivalent documentation issued by a court of competent jurisdiction under applicable laws.

18. Is there any cut off time for making investments in INPCs?

A: For PKR & USD INPCs: Investment requests received within the cut-off time of 1:00 pm Pakistan Standard Time (PST) shall be invested on the same day. Requests received after 1:00 pm (PST) will be invested on the next working day subject to availability of funds in the investor’s account.
GBP & EUR INPCs: Investment requests received till 1:00 pm (PST) shall be invested on the next working day’s value date on T+1 basis subject to availability of funds in the investor’s account.

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For any further queries, be sure to check out our FAQs at https://jsbl.com/rda-terms-and-conditions/ or email us at [email protected] or contact us at our 24/7 dedicated helpline; Call us at: 021 111 654 321 | +92 (21) 3279 9009

For further information on Roshan Digital Accounts from State Bank of Pakistan, Please visit https://www.sbp.org.pk/RDA/index.html or email at [email protected].

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