Do you want to send money to Pakistan for investment in the Pakistan stock exchange? To make it easier for overseas Pakistanis to invest in the stock market, the Central Depositary Company (CDC) has announced the measures and procedures for using the Roshan Digital Account (RDA) to invest in the Pakistan Stock Exchange.
How Can I Open A Roshan Digital Account In Pakistani Bank From The United Kingdom?
Overseas Pakistanis can go to any of the specified Bank’s online websites and upload their information as well as soft copies of their documents. The appointed Bank will conduct its own know your customer (KYC) and due diligence based on the information provided by non-resident Pakistanis (NRP) and verify the status of the account opening to the NRP in 48 hours. After confirmation, NRP can send money to Pakistan online direct in his/her Roshan digital account.
What Are The Investment Option For Non-Resident Pakistanis Through RDA In Pakistan?
If you want to transfer money to Pakistan for investment purposes, following the establishment of a bank account, NRP will have the opportunity to invest in the following asset classes:
- Certificates from Naya Pakistan.
- Stocks (equities, debt, others)
If NRP chooses “Stocks/CDC” as his or her investment mode, the Bank may ask for permission to share his or her details and soft copies of documents with CDC and other stock market bodies. It will then seek NRP’s agreement on custody and trading account terms and conditions, ask NRP to approve the terms and conditions, and then choose a brokerage house.
The Bank will then send the CDC the aforementioned information and soft copies of NRP documents and IBAN (through API or other electronic mechanisms). CDC will then send an email to NRP informing them that they have received the information from the Bank and will send the data and soft copies of the documentation to the respective brokerage house and NCCPL for the opening of the UIN. Following the opening of a trading account, it can request additional confirmations from NRP, such as clarification on fee structure and so on.
What Is The Cost-Effective Option To Transfer Large Sum Of Money To Home Country For Investment?
Big money transfers can be made at most high street banks or through a specialist currency broker. Make sure you know how to take advantage of the best offers available, whether you’re buying a property or making a big investment away from your resident country.
Online money transfer to Pakistan through ACE money transfer is the most trusted and secure way to send a large sum of money for investment in the stock exchange of Pakistan. ACE is regulated and approved by Financial Conduct Authority (FCA) for money transfer to worldwide working for decades.