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SBP launches Roshan Digital Accounts for Non-Resident Pakistanis

SBP launches Roshan Digital Accounts for Non-Resident Pakistanis

KARACHI: The State Bank of Pakistan (SBP) has on Thursday launched the ‘Roshan Digital Accounts (RDA) for Non-Resident Pakistanis’ (NRPs).

Pakistani living abroad will enable to remotely open bank accounts in Pakistan. The accounts will be opened through online digital portals without physically visiting branches.

For this purpose, the SBP has already issued a simplified account opening framework and other regulatory instructions. Using their RDAs, NRPs can now avail digital banking facilities, including access to online banking, domestic funds transfer, utility bills and tuition fee payment in Pakistan.

Pakistanis abroad could make investments in government bills, stock exchange, and real estate sector with option of full repatriation.