Investment in stock market: CDC to facilitate non-resident Pakistanis through Roshan Digital Account

KARACHI: The Central Depository Company of Pakistan Limited (CDC) will facilitate investment by Non-Resident Pakistanis in the Pakistan Stock Market through Roshan Digital Account with designated large-scale banks, said Badiuddin Akber, CEO of CDC. He said that the Roshan Digital Account was a remarkable step taken by the State Bank of Pakistan to facilitate overseas Pakistanis.

Similarly, allowing the NRPs to invest in the Stock Market through the Roshan Digital Account is a further facilitation measure for the NRPs, which is the result of the SECP's vision to create ease-of-doing business for investors. He applauded the collaborative efforts of both the SECP and the SBP through which this important milestone was achieved.

Through this initiative, the NRPs desirous of investing in the stock market of Pakistan will be able to do so through an efficient, secure and convenient mechanism.

Since there is no additional requirement other than having a Roshan Digital Account for an NRP to start investing in the stock market, they just need to provide consent to their respective bank to link them with the CDC.

Within 24 hours, they will be able to trade without the need for any further documents or information as the CDC is going to act as the information hub, connecting the stock market with the banks.

The CDC is working on this project zealously with the SBP-designated banks.

The service will be available to the NRPs with the availability of the Roshan Digital Account, which is scheduled to be launched soon.

Copyright Business Recorder, 2020