Roshan Digital Accounts gaining foothold among Non- Resident Pakistanis

The State Bank of Pakistan (SBP) recently launched Roshan Digital Accounts is quickly gaining traction among the Overseas Pakistani community, as some Forty thousand Non- Resident Pakistanis have so far opened these accounts.

Whereas, 1,000 new accounts are being opened on daily basis. The figures were shared at a webinar hosted by the Pakistan High Commission Ottawa and Consulate General of Pakistan Toronto.

The participants apprised the Pakistanis based in Canada and North America about the details and benefit of Roshan Digital Accounts as well as the role of remittances in the national development. It was informed that eight Pakistani banks are offering the facility of Roshan Digital Accounts and more banks would be added to the loop in the coming days.

Inaugurated in September by Prime Minister Imran Khan, 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.