If you visit the website (below) Pakistan is offering a 6.75% return on investment on a minimum investment of $5,000.
On the website: "Pakistan Banao Certificates (PBC) is authorized and regulated by the Government of Pakistan (GoP) and denominated in United States Dollar for the investors having liquidity in their bank accounts overseas. PBCs will be coupon securities carrying coupon of 6.25 percent payable semiannually and 6.75 percent payable semiannually for 3 and 5-Years respectively. Profit payment shall be exempted from deduction of tax at source."
Should I just sell all my investments in VTSAX, VTIAX, online savings accounts and just buy these certificates? What's the catch here?
I'm skeptical because my mom (who is Pakistani) once deposited $2,000 in a Pakistani bank back in 2008 and it disappeared when it merged with Citibank and nobody could find it when we went to visit in 2017.
Submitted March 29, 2019 at 11:55AM by wrangler_fan https://ift.tt/2uxrXF4
