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CDC & SBP to facilitate investment in PSX by overseas Pakistanis

CDC & SBP to facilitate investment in PSX by overseas Pakistanis

KARACHI: Central Depository Company of Pakistan (CDC) Chief Executive Officer Badiuddin Akber said on Tuesday that the company would facilitate investment in Pakistan Stock Exchange (PSX) by Non-Resident Pakistanis (NRPs) through State Bank of Pakistan’s (SBP) Roshan Digital Account.

“SBP’s Roshan Digital Account is a step in the right direction to facilitate overseas Pakistanis,” he said in a statement issued by CDC. “Allowing NRPs to invest in the PSX will create further ease of doing business for investors.”

Through this initiative, NRPs who want to invest in the PSX will be able to do so through an efficient, secure and convenient mechanism. In order to start investing in the PSX, NRPs will only need to provide consent to their respective bank to link them with CDC after which they will be able to trade on the PSX within 24 hours. No further documents or information will be required from the NRPs.

CDC said that it is working on the project along with SBP designated banks adding that Roshan Digital Account will be launched soon for the NRPs.