Most of the expatriates send money to Pakistan for investment purposes. Foreign persons and institutions and Overseas Pakistanis can invest in securities listed on Pakistan Stock Exchange. They will benefit from the opportunity for growth that investing in the stock market provides. For non-resident Pakistanis, investing in PSX is especially an attractive opportunity. It will encourage them to profit from the Pakistani Capital Industry competitive returns while also participating in the economy of their homeland.
What Is Roshan Digital Account & How It Can Be Helpful For Pakistani Diaspora?
The Roshan Digital Account (RDA) is a comprehensive financial platform designed to assist Non-Resident Pakistanis in their plans to invest in Pakistan-based Savings Schemes. It is available in both PKR and USD. The State Bank of Pakistan, in partnership with commercial banks across the country, is giving non-resident Pakistanis (NRPs) the opportunity to participate in creative banking solutions.
These accounts are for the thousands of Pakistanis living abroad who want to send money to Pakistan online, invest, and do business in Pakistan from anywhere in the world. Prime Minister Imran Khan has approved the launch of Roshan Digital Accounts for all Overseas Pakistanis to provide help to Pakistani nationals living abroad.
NRPs are being given a chance to open an account in Pakistan through an entirely digital and online operation, eliminating the need to visit a bank branch, which is an excellent accomplishment in Pakistani history. Just a few pieces of information and documentation are required to open the account. Banks have been given 48 hours to complete all required customer due diligence.
How To Open A Roshan Digital Account?
Non-Resident Individual Pakistanis can open a Roshan Digital Account for online money transfer to Pakistan by visiting any of the specified banks’ websites, portals, or apps and filling out the Digital Account Opening Form, which includes entering necessary details and uploading soft copies of documents. Based on the information given, the bank will conduct its Know Your Customer (KYC) and due diligence and verify the status of Account Opening to the person within 48 hours.
What Are The Advantages Of Roshan Digital Account?
The Pakistan Stock Exchange has been named Asia’s most successful stock exchange. Via Roshan Digital Account, account holders can make the most of their hard-earned money by investing in the stock market. Without the permission of the bank or the SBP, all money transfers to Pakistan in the Roshan Digital Account can be transferred back from Pakistan.