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Markets

Roshan Digital Account: 21,000 remote accounts opened, $24mn received

  • Roshan Digital Account provides innovative banking solutions for millions of non-resident Pakistanis (NRPs) seeking to undertake fund transfers, bill payments, and investment activities in Pakistan.
16 Oct 2020

Expressing delight over the response from Overseas Pakistanis, Prime Minister Imran Khan informed that around 21,000 non-resident Pakistanis opened Roshan Digital Account remotely and sent $24 million with the number still growing.

“Glad to see Overseas Pakistanis taking advantage of Roshan Digital Account initiative of State Bank of Pakistan. To date more than 21 thousand digital accounts have been opened remotely & $24mn received,” the PM said.

He said the number of accounts and amounts was growing every day.

Inaugurated in September by the PM himself, the State Bank of Pakistan (SBP) Roshan Digital Account provides innovative banking solutions for millions of non-resident Pakistanis (NRPs) seeking to undertake fund transfers, bill payments, and investment activities in Pakistan.

Opening the Roshan Digital Account will require a basic set of information and documents, and only take 48 hours once all documents are complete. The customer can choose either foreign currency or rupee dominated account, or both. Funds in these accounts will be fully repatriable, without the need for any regulatory approval.