State Bank of Pakistan launches Roshan Digital Accounts anthem

BusinessState Bank of Pakistan launches Roshan Digital Accounts anthem

KARACHI, Pakistan: The State Bank of Pakistan (SBP) has released a special anthem, ‘Tum Juray ho to Barha hai Pakistan’ on Pakistan Day, to celebrate the tremendous contributions of Overseas Pakistanis to Roshan Digital Accounts (RDA), which resulted in the success of innovative banking solutions and the socio-economic growth of the nation.

The anthem featuring stars Shehzad Roy, Hadiqa Kiyani, and Faisal Kapadia, highlights ‘Roshan Digital Account’ an initiative of SBP, which is inspiring millions of overseas Pakistanis to make resourceful contributions to their beloved homeland.

RDA, in collaboration with reputed commercial banks, is an exclusive offer for the Non-Resident Pakistanis (NRP) and holders of Pakistan Origin Cards (POC) to promise unmatched convenience for overseas remittances and investment opportunities.

Since its launch in September 2020 till February 2022, RDA has received funds amounting to more than 3,632 million US Dollars in Pakistan, through 365,182 accounts opened by Pakistanis living in 175 countries. Another 2,494 million US Dollars of investments have also been achieved through the ‘Naya Pakistan Certificates’.

The Governor of SBP – Dr. Reza Baqir stated that; “Releasing the Roshan Digital Account anthem is an exciting milestone for us as we are gaining global financial outreach, with revolutionary facilities. For the first time in Pakistan’s history, NRPs can remotely open and operate a digital account in Pakistan, through a completely transparent, online process, without any need to visit a bank branch. This technological infrastructure promises completely secured, digital access to all conventional account services, including; funds-transfer, bills and fee payments, and e-commerce.

This initiative is in sync with SBP’s vision to provide lucrative opportunities for attracting foreign investments in shares and units of funds, in the Pakistan Stock Market. The ‘Roshan Apni Car’ facility also enables the Non-Resident Pakistanis to purchase any car of their choice, at attractive prices, and gift it to their loved ones living in Pakistan. While the ‘Roshan Apna Ghar’ scheme brings lucrative opportunities for the overseas Pakistanis, enabling them to invest in Pakistan’s property markets, including both; commercial and residential real estate.

The ‘Roshan Samaaji Khidmat’ facility enables expatriate customers to pay for charities and donations in Pakistan, using a convenient, one-stop payment platform. Naya Pakistan Certificates (NPC) issued by the Government of Pakistan, are enabling investments in US Dollars, British Pounds, Euros, and Pak Rupees at very attractive risk-free rates. It can be availed in both; conventional and Shariah-compliant forms.

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