Islamabad June 26 2023: Pakistan Finance Minister Senator Mohammad Ishaq Dar launched Shariah Compliant Investment Products today at a ceremony to promote Islamic financial system and to gradually eliminate interest based financial system in Pakistan.
Islamic products are launched under the brand name of “Sarwa” for a term of one, three and five years along with launching of a special sarwa saving accounts to withdraw money at any time.
Sarwa one year term paper offer 20.8 percent with payment at the end of the tenor, three year offers 18 percent with semi-annual payments and five year offers 12.84 percent for profit sharing on monthly basis.
However, Sarwa saving account offers 19.5 percent profit distributed every month with facility to withdraw funds at any time.
Profits will be deposited into their bank accounts or national savings accounts through Rasst and Soon NSS mobile application will be launched to check the current status of the funds.