Prime Minister's Special Assistant for Overseas Pakistanis Zulfiqar Bukhari has announced Roshan Digital accounts for overseas Pakistanis they will receive the digital banking facility from the federal government.
PM @ImranKhanPTI today approved launch of Roshan Digital Accounts for all #OverseasPakistanis on 4th Sept.
— Sayed Z Bukhari (@sayedzbukhari) August 20, 2020
I’ll encourage all OPs to benefit from ease of digital banking and a new world of investment opportunities from anywhere in the 🌍
Great things to come!
In a statement released today (Sunday), Zulfiqar Bukhari said, “Overseas Pakistanis will be able to make direct payments and investments in the country with these roshan digital accounts.
The special assistant said the initiative will be a great investment opportunity for Pakistan's overseas community. “The plan is designed according to Prime Minister Imran Khan's vision,” he said.
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He noted that overseas Pakistanis want to become major players in the country's national development. “Digital banking has long been a demand from the Pakistani overseas community,” he added.
You can take advantage of any banking facility, including money transfer, bill payment, and e-commerce banking services. In addition, overseas Pakistanis can also take advantage of investment opportunities through bank accounts.
In these Roshan Digital accounts overseas Pakistanis can invest in the stock market and use the fixed account policies of the banks, except using accounts to invest in Prime Minister Imran Khan's housing projects.
They could also open their accounts in foreign or local currency.
Consultations with the State Bank of Pakistan (SBP) and other commercial banks on this matter have been concluded and the project is expected to start shortly.
Roshan Digital Account is an important new initiative from the State Bank of Pakistan, in conjunction with commercial banks operating in Pakistan.
This account provides innovative banking solutions for millions of non-resident Pakistanis
(NRPS) who wish to conduct banking, payment and investment activities in Pakistan.
For the first time in Pakistan's history, the NRPS offers the ability to open an account in Pakistan remotely through a fully digital and online process without having to visit a bank branch.
Only basic information and documents are required to open an account. Banks were asked to complete all required customer surveys within 48 hours.
The Roshan Digital account fully integrates the Pakistani diaspora into the Pakistani banking and digital payment system.
It provides access to all traditional account services including money transfers, family bills, e-commerce and other payments in Pakistan.
It also enables investments in specially designed savings instruments for NRPS
Naya Pakistan called for certificates, which will soon be introduced by the Pakistani government. These instruments are available in both US dollars and Pakistani rupees with short and long term with attractive returns and in bothconventional and sharia compliant forms.
This allows the NRPS to invest in term deposit products of banks.
In the future, NRPS also offers the possibility of realizing homes and business premises ,Real estate in Pakistan. It is supported by debit cards and virtual payment cards for national and international use.
Bills are available in both foreign currency and Pakistani rupees. NRPS can choose a foreign currency account or a rupee account or both.
That would be you interoperable and enables real-time online conversion from foreign currency to Pakistan Rupees and vice versa.
Full repatriation. Funds in the Roshan Digital account are fully refundable they can be returned from Pakistan without government approval.
