KARACHI: Engro Rupiya Certificates announced Thursday the launch of big savings certificates Rupiya opportunity to offer investors an unprecedented rate of 14.5 percent return.
Addressing the ceremony, Ruhail Muhammad, Chief Financial Officer, Engro Corporation Limited said, Engro Rupiya license is a cheap product in accordance with the tradition of Engro Pakistan is a pioneer in the business world, and the goal is to provide investors the opportunity to be part of the vision and Engro and save investors can count on.
He said at the time of national savings schemes, income does not exceed 13 percent, and it would be a very interesting product for retail investors.
The first term of Finance Certificate (TFC), which will be launched by Engro Corp, the financial product that provides for payments twice a year, a minimum of Rs 25000, episode three years, he said.
He said that although the product is for a period of three years, but also offers investors the opportunity to redeem the certificates at any time, with the benefits accrued from the date of purchase to the date of receipt.
To ensure greater awareness and convenience for investors, thickened Corp. has partnered with 15 institutions including 11 banks and certain financial organizations to facilitate investors to buy these certificates, Ruhail said.
We understand the needs of investors and the constraints they face, and thickened Rupiya provides a reliable and efficient domestic investment in Pakistan, he said.
He said that TFC is an instrument of corporate debt, which will raise funds thickened at a slower pace compared with banks, despite paying a higher rate of profit for its investors.
The investors include Pakistani citizens, or a person of dual nationality, is a Pakistani national, and foreign, even living in Pakistan or abroad can invest in these therapeutic feeding centers.
While other eligible investors include companies, partnerships or other legal entities incorporated or established within or outside Pakistan, mutual funds, provident / pension / service companies incorporated outside Pakistan.
In case of redemption before the expiration of a penalty () of 2 two per cent is levied on the investment amount in circulation.
However, the benefit is payable from the date of purchase of the CNT, he said.
He said there are three parties are contractually bound to a question TFC comprising the issuer (the borrower), investors (lenders), and the administrator.
The administrator, usually a financial institution, is appointed by the issuer to protect the contractual rights and interests of investors at any time and is thickened TFC Trust Corporation.
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