Overseas Pakistanis to have 'Roshan Digital Accounts'. Here's all you need to know

The Pakistan Trade Officer, Los Angeles, USA, also issued a statement on the matter.

Prime Minister Imran Khan has approved to initiate the operations of Roshan Digital Accounts for all Overseas Pakistanis to provide relief to expatriate Pakistani nationals. The service will commence on the 4th of September.

Special Assistant to the PM for Overseas Pakistanis, Syed Zulfi Bukhari said:

I will encourage all overseas Pakistanis to benefit from the ease of digital banking and a new world of investment opportunities from anywhere in the world — great things to come.

The Pakistan Trade Officer, Los Angeles, USA, issued a statement on the matter. In the statement, he termed the operation\’s initiation as the \’new era of banking in Pakistan\’ and said:

This service is a major new initiative of the State Bank of Pakistan. The Roshan Bank Account provides innovative banking solutions for millions of Non-Resident Pakistanis (NRPs) seeking to undertake banking payment and investment activities in Pakistan.

Describing the benefits of the Roshan Digital Account, he stated:

For the first time in Pakistan\’s history, NRPs are being provided an opportunity to remotely open an account in Pakistan through an entirely digital and online process without the need to visit a bank branch. Opening the bank account will require only a basic set of Information and documents. The banks have been asked to complete all necessary customer due diligence within 48 hours.

The statement further explained:

The Roshan Digital Account will provide all current account services, including funds transfer, bill payments for their families, e-commerce, and other payment activities in Pakistan. It will also enable investment in specially designed saving instruments for expats called Naya Pakistan Certificates, which will soon be launched by the Pakistan government.

Concluding the statement, the Pakistan Trade Officer said:

The saving instruments will be available in both U.S dollars and Pakistani rupees, at short and long term, with attractive rates of return, and in both conventional and sharia-compliant forms. It will also enable expats to undertake residential and commercial real estate-related transactions in Pakistan. It will be backed by debit and virtual debit cards for both domestic and overseas use.

What are your thoughts on this? Please share with us in the comment section below.

  • اور سیز پاکستانیوں کو لوٹنے کے لئے بنک اکاؤنٹ کھول دیے گئے بھائی ھم کر ایک گاڑی لانے کی سھولت تمہاری امی دین گی؟

  • The information requested by banks in Pakistan are confidential, example tax number, and Social insurance number. So how do you expect someone to give these information.

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