Roshan Digital Account for overseas Pakistanis launched
Prime Minister Imran Khan inaugurated the Roshan Digital Account — a new initiative of the State Bank of Pakistan (SBP) in partnership with major banks of the country for non-resident Pakistanis (NRPs).
Through this account, NRPs will be fully integrated with Pakistan’s banking and payments system. For the first time in the country’s history, NRPs will be able to open an account in Pakistan without requiring physical presence in the country or in any embassy or consulate, said the press release issued by the SBP.
This account will provide them access to a full range of banking services and exciting investment opportunities in Pakistan from wherever they live, including the soon to be launched Naya Pakistan Certificates issued by the government, as well as the stock market and real estate. Funds in these accounts will also be fully repatriable, such that they can be remitted back from Pakistan without any prior approval from SBP.
Addressing the audience, the Prime Minister dedicated the occasion to overseas Pakistanis, noting that they have always made Pakistan proud through their achievements and dedication to their motherland. He was delighted that SBP was offering a new channel to connect overseas Pakistanis with their motherland financially and congratulated the Governor SBP, Dr. Reza Baqir, on this initiative.
The Prime Minister called overseas Pakistanis the greatest resource of the country. He said that in many parts of the world, expatriates have played an important role in the development of their countries. However, he regretted that Pakistan has historically been unable to tap its diaspora effectively. However, he remarked that his government is committed to better integrating overseas Pakistanis into the local economy, and that the Roshan Digital Account is a very important first step in this direction.