Islamabad: Prime Minister Imran Khan on Thursday launched the Pakistan Banao Certificate (PBC) initiative – a news source reported.
PBC is a dollar-denominated diaspora bond. Through PBC, the government hopes to tap into the international savings of overseas Pakistanis in a bid to increase its foreign reserves.
The minimum limit for bond investments has been fixed at USD 5,000. However, there is no fixed limit with regard to the maximum investment amount. Investors will earn profit after every six months.
The bond will be of two maturities: one of three years that will yield a return of about 6.25%, and the other of five years duration with a 6.75% return yield. The government has designated four banks to facilitate the transactions.
Those willing to avail this facility can visit the initiative’s official website at: www.pakistanbanaocertificates.gov.pk
Once the site is accessed, aspirants are required to create an account. The software will seek NIC or overseas card details for verification purposes.
A reference number will then be issued, through which deposits will be made in the National Bank of Pakistan’s New York branch.
Account holders can view the details of their deposits anytime by accessing their online accounts through the website.