Ali Raza Khan 
The initiative, in conjunction with Naya Pakistan Certificates (NPCs), gives overseas Pakistanis the chance to earn attractive returns backed by the Government of Pakistan with easy access to funds. The latest regulations by the State Bank of Pakistan have made the process even smoother, easier, and more secure for investment.
Roshan Digital Account Can Be Opened Fully Online
The biggest advantage of the Roshan Digital Account is the complete digital process of opening an account. Overseas Pakistanis don’t have to visit embassies or bank branches to complete the process.
Applications can be filed through authorised Pakistani banks, including HBL, Meezan Bank, UBL and MCB Bank. Candidates must complete an online form and upload the required documentation.
This has greatly helped in financial inclusion for overseas Pakistanis and is a reflection of the digital transformation journey of the country.
Multiple Documents Needed For Account Opening
Applicants are required to submit scanned copies of the supporting and identification documents.
Required Documents:
- CNIC, NICOP or POC
- Copies of a Pakistani or foreign passport
- Proof of Non-Resident Status
- Employment/business papers showing source of income
- proof of residency
- Digital photo and signature
The application is processed by the banks after it is submitted, and the account is usually activated within 48 hours, so the customer can start banking without any lengthy process.
Account Holders Have A Choice Of Local Or Foreign Currency Accounts
Roshan Digital Accounts provide instant access to multiple currency options.
Account holders can open accounts in Pakistani rupees or foreign currency accounts in US dollars, British pounds or euros. This flexibility enables overseas Pakistanis to save according to individual financial needs and international transactions.
The availability of various currencies has increased the attractiveness of the scheme and has improved Pakistan’s links with expatriate communities around the world.
Government-Backed Returns: Naya Pakistan Certificates
Naya Pakistan Certificates are investment instruments issued by the Government of Pakistan. These certificates are available in conventional and Shariah-compliant formats for investors to choose from.
The investment products have been designed for overseas Pakistanis seeking safe avenues backed by the state.
Their introduction has been vital in attracting remittances and encouraging long-term investment into Pakistan’s economy.
Funding Requirements Must Follow SBP Rules
Investments in Naya Pakistan Certificates are to be made through foreign remittances deposited in Roshan Digital Accounts, as per the State Bank of Pakistan regulations.
Local transfers of funds are generally not eligible for investment purposes. Only remittances received from abroad after June 30, 2020, are eligible for the purchase of the certificates.
Minimum Investment Requirements Still Open
The investment structure has been designed to appeal to a full range of investors.
Minimum investments are:
- Rupee-denominated certificates PKR 10,000
- 500 dollars for investment in dollars
- GBP 500 for investments in pound sterling
- PKR 500 for euro-denominated investments
These entry levels are quite within the reach of overseas Pakistanis of all income groups to participate in the program and contribute towards the economic development of Pakistan.”
Available In Various Investment Tenors
Naya Pakistan Certificates come in different maturities.
Available tenors:
- 3 months
- Half a year
- 1 year
- Three years
- 5 years of study
This variety enables investors to design investment strategies that match their financial objectives and time horizons.
You Can Manage Your Investments On Digital Banking Platforms.
Money received in the Roshan Digital Account can be invested in Naya Pakistan Certificates through internet banking and mobile apps of banks participating in the scheme.
Account holders just go to the investment page and buy certificates from their account balance.
The digital process eradicates paperwork and enables overseas Pakistanis to conveniently manage investments from anywhere in the world.
Taxation Rules Offer More Simplicity
Profits earned on Naya Pakistan Certificates will be subject to a fixed withholding tax of 10 per cent.
Currently, the deducted amount is treated as the final tax liability on these profits in Pakistan. Generally, taxpayers without additional taxable income in the country are not required to file separate tax returns for certificate earnings.
The simplified taxation structure has made the investment process easier for overseas Pakistanis.
Easy Repatriation Of Funds And Profits
One of the major features of the Roshan Digital Account framework is that it allows repatriation of principal and profits without prior approval of the State Bank of Pakistan.
Current regulations permit account holders to repatriate funds to their country of residence at any time.
The Naya Pakistan Certificates can also be encashed before maturity, but the returns may be adjusted as per the schedule applicable to the bank.
That flexibility has helped to build investor confidence and has been a factor in the growing popularity of the program.
Roshan Digital Banking Enhances Pakistan’s Linkages To The Global Financial System
The Roshan Digital Account and Naya Pakistan Certificates are key milestones in Pakistan’s journey to modernise financial services and connect overseas communities.
The initiative has provided a convenient platform for overseas Pakistanis who want to retain financial relations with their motherland with secure investment opportunities, digital account opening and easy repatriation facilities.
