Govt has to launch Roshan Digital Account for overseas Pakistanis.
The government has announced to launch a Roshan digital account for overseas Pakistanis in the next month. Overseas Pakistanis will soon be able to open their bank accounts.
Overseas Pakistanis will soon be able to open their bank accounts and make investments directly in the country from abroad.
The Government of Pakistan has launched a ‘Roshan Digital Account’ scheme whereby Overseas Pakistanis will be able to remotely open a bank account in Pakistan will be able to open bank accounts in Pakistan in both Foreign currencies and Pak Rupees. Foreign Currencies include all major currencies like US Dollar (USD), Pound Sterling (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), UAE Dirham (AED), Saudi Riyal (SAR), Chinese Yuan (CNY), Swiss Franc (CHF), and Turkish Lira (TRY). The entire process of opening the said account will be digital, without a need to physically visit the bank. Roshan Digital Account provides innovative banking solutions to millions of overseas Pakistanis, allowing them to undertake banking, payment, and investment activities in Pakistan. Through this initiative, Pakistani diaspora would be fully into the Pakistani banking and digital payments system providing them access to all conventional account services, including funds transfer, bill payments for their families, e-commerce, and other payments in Pakistan in addition to investing in the stock market and fixed deposit products offered by banks. All major commercial banks of Pakistan have uploaded the information regarding the opening of Roshan Digital Account on their websites.
The Roshan Digital Account project would be rolled out in the first week of September.
A senior officer of the Ministry of Overseas Pakistanis and Human Resource Development said that after the launch of the project, the expatriates would have to submit their documents online for opening a new bank account.
He said that they would get multiple facilities including funds transfer, e-commerce, bill payment, and others.
Talking to APP, the officer said it would enable the overseas Pakistanis in making a direct investment in the real estate sector and stock exchange.