It is a major initiative by State Bank of Pakistan, together with commercial banks operating in Pakistan.
These accounts will provide innovative banking solutions for millions of non-residents Pakistanis (NRPs) seeking to undertake fund transfers, bill payments and investment activities in Pakistan.
For the first time in the country’s history, NRPs will be able to remotely open an account through an entirely digital and online process without any need to visit a bank branch, embassy or consulate.
Opening the Roshan Digital Account will require a basic set of information and documents, and will only take 48 hours once all documents are complete. The customer can choose either a foreign currency or rupee dominated account, or both. Funds in these accounts will be fully repatriable, without the need for any regulatory approval.