SBP opens direct access to government securities with InvestPak launch

The State Bank of Pakistan (SBP) has launched InvestPak, a digital investment platform that enables retail and corporate investors to buy government securities directly, while revising rules on minimum profit rates for savings deposits to encourage greater participation in sovereign debt instruments.

Under an SBP circular issued on July 6, the central bank said the mandatory minimum profit rate on savings deposits will now apply only to deposits held by natural persons with a monthly average balance of up to PKR 10 million. Corporate and institutional depositors are excluded from the requirement and can instead invest directly in government securities through InvestPak, where they may earn higher returns.

The changes amend provisions of BPRD Circular No. 5 and IFPD Circular No. 9, both issued on Nov. 26, 2024, governing minimum returns and profit-sharing on savings deposits.

"Institutional and sophisticated investors can now conveniently invest in government securities through InvestPak and earn better returns," the SBP said in the circular. The central bank said the changes are intended to diversify the investor base for government securities while ensuring competitive returns for investors.

In a separate statement, the SBP announced the formal launch of InvestPak, a web portal and mobile application ecosystem designed to digitize investments in Government of Pakistan securities for retail and corporate customers. The central bank also launched a nationwide media campaign to promote awareness and encourage broader participation in the sovereign debt market.

The launch ceremony, held at the SBP headquarters in Karachi, was hosted by SBP Governor Jameel Ahmad and attended by Finance Minister Muhammad Aurangzeb, senior banking executives, corporate leaders and other representatives of the financial sector.

Aurangzeb said the platform supports the government's vision of a digitally enabled and financially inclusive economy by providing individuals, corporates and institutions with direct digital access to government investment products.

"As the investor base expands, banks will have greater space to focus on their core responsibility of lending to the private sector and supporting productive economic activity," he said.

Ahmad described InvestPak as "a defining milestone in the evolution of Pakistan's financial landscape," saying the platform reflects the central bank's commitment to expanding inclusive digital financial services under its Strategic Vision 2028.

He said the initiative would usher in "a new era of digital access and empowerment for investors across Pakistan" while improving market efficiency through automation, transparency and international best practices.

According to the SBP, InvestPak enables investors to purchase government securities digitally with less paperwork and greater transparency. The platform also allows users to manage multiple PKR and IPS accounts across participating financial institutions through a single interface.

The central bank said the platform is expected to benefit individual investors, women, small savers, corporates and other market participants. A dedicated call center and integrated online support services have also been established to assist users.