Understanding the Roshan Digital Account in Pakistan: A Guide

Roshan Digital Account (RDA) - Pakistan

The Roshan Digital Account is a banking initiative by the State Bank of Pakistan (SBP), launched in September 2020, to facilitate Overseas Pakistanis in remotely accessing banking services, investment opportunities, and payment solutions in Pakistan.

Key Features:

1. Eligibility:

Available for Non-Resident Pakistanis (NRPs) and Resident Pakistanis with declared foreign income/assets.

2. Account Opening:

Fully digital process (online application with CNIC/NICOP, proof of NRP status, etc.)

Can be opened in PKR or foreign currencies (USD, EUR, GBP, etc.)

3. Services Offered:

• Funds transfer and bill payments

• Investment in Naya Pakistan Certificates (NPCs)

• Investment in Pakistan Stock Exchange (PSX)

• Real estate investment

• Car financing and Roshan Apni Car

• Insurance products

4. Tax Benefits:

• 10% Withholding tax is final and no tax filing required for Naya Pakistan Certificates

• No wealth or income tax on funds in RDA

5. Repatriation of Funds:

100% repatriable (principal and profit) without approvals

6. Banks Offering RDA:

Total Major banks like Meezan Bank, HBL, UBL, Bank Alfalah, MCB, Faysal Bank, and others

For more information on how to open a Roshan Digital Account, visit State Bank of Pakistan’s official website.