Govt of Pakistan Launched ‘Roshan Digital Account’ for Overseas Pakistanis Following the Ease in Doing Business Strategy
Prime Minister of Pakistan, H.E. Mr. Imran Khan, launched the ‘Roshan Digital Account’ initiative by the State Bank of Pakistan today.
Through this initiative, Overseas Pakistanis will now be able to remotely open a bank account in Pakistan through an entirely digital and online process. Banks have been instructed to process all applications within 48 hours!
This will enable Overseas Pakistanis to have access to all conventional bank account services in Pakistan remotely, make investments in savings certificate and the Pakistani stock market, and undertake residential and commercial real estate transactions. The accounts will also be backed through debit and virtual debit cards.
As a first step, 8 Pakistani banks have been chosen to provide these services. We are sharing the links of primers for the products offered by the 8 major banks below:
Overseas Pakistanis can not only choose between foreign currency or rupee-denominated accounts, but they will also be fully able to repatriate the money without onerous regulatory approvals.
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