|
CERTIFICATE OF INVESTMENTS (For Individuals
Only)
|
Period |
Expected Rate |
|
1 Month |
8.00% |
| 3 Months
|
9.00%
|
|
6 Months |
10.00% |
| 1 Year
|
11.00%
|
Investment Limit
There is no limit as to the maximum amount of
investment. The minimum amount and maturity period
to issue COI is Rs. 50,000/- and one month
respectively.
Delivery of Certificates
The COI will be
issued only after receipt of funds in case of cash payment
and in the case of cheque, pay order or demand draft, after
realization of proceeds.
Zakat Deductible at Source
Zakat will be deducted as per Zakat and Ushr
Ordinance, 1980.
Withholding Tax
Tax shall be deducted at source from payment of
profits as required by the Income Tax Ordinance,
2001. At present tax is chargeable at the rate of
ten percent (10%) of the amount of profit being
paid.
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