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Overseas Investors

Overseas Investors

NBP Funds provides you with an opportunity to invest and benefit from the growth potential of Pakistan. Keeping in mind the continuously changing market dynamics, we at NBP Funds strive to ensure that our investors get the best value for their investments.

Why invest in Pakistan?

Pakistan is the sixth most populous country in the world with favorable demographics as majority of population is under the age of 30. It is amongst the top 10 commodity producers of Milk, Wheat, Rice, Sugar & Cotton and is strategically placed to become Asia’s premier trade, energy and transport corridor. The Pakistani stock market is trading at a significant discount over regional peers and other markets in the MSCI Emerging Market Index, while the corporate earnings have grown at a sustained double-digit rate in last fifteen years. All of these reasons make the Pakistani market a perfect opportunity for investment in the long term.

Overseas Investors can invest their savings with NBP Funds by following the simple steps mentioned below:

First Time Investment:

To invest your savings in NBP Funds, you need to open an account. You are required to send scanned copies of the required documents via email at [email protected] . After confirmation, you will be asked to send the original set of documents to activate your account.

The list of required documents is mentioned below:

  • Duly filled Account opening documents of the product you wish to invest in:
    • Mutual Funds
    • Pension Funds
    • Islamic Saving Plans
  • Copy of Passport / National Identity Card for Overseas Pakistanis / CNIC
  • Copy of visa (in case of overseas Pakistani)
  • Copy of job proof (Salary Slip/ Income Tax Return/Employer Letter)
  • Duly complete FATCA (Foreign Account Tax Compliance Act) form
  • Form W-9 for US citizens only
  • Risk Profile Form
  • CRS Form – I (for Individuals)
  • Zakat Declaration (In case of exemption in Zakat deduction)

Prior to Transfer / Account opening please share all documents for KYC confirmation.

Overseas Investors can remit the investment amount through their banks to Pakistan for investment in NBP Funds. Once the Foreign currency is received in Pakistan, it is converted to PKR at the prevailing interbank exchange rate. The funds will be transferred to the designated account after which NBP Funds will issue units.

Investors can use any one of the following methods to transfer investment amount to NBP Funds:

  • Through Special Convertible Rupee Account (SCRAs):
  • Special Convertible Rupee Account (SCRA) allows Overseas Investors to easily remit and invest in Pakistan and repatriate their investment amounts as and when required. Investors can easily open their SCRA account through any of the banks in Pakistan. Once the investor remits foreign currency into the SCRA account, the bank converts the foreign currency at the current prevailing rate. NBP Funds issues units after the receipts of funds from the bank.

  • Directly into Bank Account:
  • Investors can also invest directly into Funds account under management of NBP Fund maintained with CDC by sending foreign currency directly into the following account:

    Title of AccountCDC TRUSTEE NAFA FUNDS
    Account Number1030-0238376-0241
    IBANPK43BKIP0103002383760241
    Swift CodeBKIPPKKA
    BankBankislami Pakistan Limited
    BranchMain Branch, Karachi
    Branch Address11th Floor, Executive Tower, Dolmen City, Block-4, Clifton, Karachi
  • BIPL maintained following NOSTRO Accounts:
  • BANICISALMI BIC CODE : BICIPPICKA

    FCYCORRESPONDENTNOSTRO ACCOUNT NUMBERSWIFT CODE
    AEDMCB Bank Limited  (Dubai IBAN)AE 730910000 0130MUCBAEAD
    CHFUnited Bank AG (Zurich), Switzerland833.03.01001UNILCHZZ
    EURUnicredit Bank AG Munich, Germany69109624HYVEDEMM
    CNYIndustrial And Commercial Bank of China, Karachi6.00101E+18ICBKPKKA
    GBPMashreq Bank PSC, London10871MSHQGB2L
    JPYNational Bank of Pakistan, Tokyo, Japan21134NBPAJPJT
    SARBank Al-Jazira, JeddahSA37 6000 0000 990050097001BJAZSAJE
    USDJP Morgan Chase Bank National Association New York,927642504CHASUS33
    AUDJP Morgan Chase Bank, Sydney10149984CHASAU2X

    NBP Funds will carry out a process of registration of the investment with State Bank of Pakistan to help in registering the investment and to facilitate in repatriation as and when required.

On subsequent investments, only investment application form is to be sent along with the payment transfer.

Investors can receive their proceeds in Special Convertible Rupee Accounts (SCRA) in Pakistan, which can be repatriated anytime in Foreign Currency. Whereas remittance of non-SCRA account holders will be directly deposited to the IBAN accounts of the investors.

If redemption is partially or completely made in foreign currency, then registration and approval from State Bank of Pakistan is mandatory.

Please write to us at [email protected] for any queries or assistance

Note:

  • NBP Funds will carry out the process through Bank Islami Pakistan Limited and the same will be submitted to SBP for registration of investment on repatriation basis. After receiving Trustee letter and complete documents pertaining to the transaction, SBP will take 10-15 working days (minimum) to provide confirmation of registration. However, these days will not hinder our process of issuance of account statement and other related documents to the investor.
  • In case of switching/Exchange of Units, the same will be registered with SBP in the above-mentioned manner.
  • In case SBP disallowed the investments NBP Funds will instruct the Trustee for return of funds to Investor.