State Bank of Pakistan (SBP) is actively working along with the governmentfor the facilitation of overseas Pakistanis by increasing their access tofinancial markets of Pakistan, said SBP Governor Reza Baqir while speakingto the Pakistani community through a webinar organized by the PakistanEmbassy in Washington D.C.
SBP is working for the facilitation of home remittances, increasinginvestment in Pakistani capital markets, industry, and real estate, andfulfilling the lifestyle needs of non-resident Pakistanis, he added, sayingthat he was excited about the launching of the Roshan Digital Accounts.
Baqir said that SBP is focusing on facilitating the overseas Pakistanis byproviding a secure and efficient financial system through digital means. Heoutlined SBP’s commitment to a digital financial ecosystem that wouldfeature efficient and secure payment and banking systems in the country.——————————
The Deputy Governor (Policy) of the State Bank of Pakistan, Dr. MurtazaSyed, gave a detailed presentation on the Roshan Digital Accounts to theparticipants. He informed that for the first time in Pakistan’s bankinghistory, Non-resident Pakistanis (NRPs) have been provided an opportunityto remotely open bank accounts in Pakistan entirely through digital meanswithout visiting a bank in Pakistan or an Embassy or a Consulate office.The facility has been initially launched through eight Pakistani banks. SBPwould continue to add other banks to the list in the future.
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The deputy governor highlighted that Roshan Digital Accounts can be openedin Pak rupee denomination and in a number of foreign currencies as well,which offer complete lifestyle banking solution to account holders throughdigital channels.
The Roshan Digital Accounts can be used for investment in the Government ofPakistan Securities, including the recently launched Naya PakistanCertificates offering attractive returns in dollars and Pak rupees, and arealso available in Shariah-compliant form. In addition, the accounts enableinvestment in the Pakistan Stock Exchange, deposit products of banks and,in the future, in real estate.
