The Prime Minister of Pakistan Imran Khan recently launched the ‘Roshan Digital Account’, an initiative that will assist millions of overseas Pakistanis to undertake services like direct fund transfers, investment activities and bills payments in the country.
The Roshan Digital Account is a project by the State Bank of Pakistan (SBP), along with the collaboration with another 8 commercial banks which are operating within Pakistan.
The banks responsibility is to provide advanced banking solutions intended for the millions of non-resident Pakistanis (NRPs), meanwhile, for the first time in the history of Pakistan, the overseas Pakistani will be able to open an account in any bank through entirely online processing and without visiting any bank, consulate or embassy.
In order to open your bank account, all you need to do is complete your required document, after completion, it will take around 48 business hours to open the requested account, according to an official statement by the concerned authority.
It’s the customer’s choice whether to choose a rupee dominated account, in foreign currency or both, and assets in the account will be completely repatriable without any need for monitoring approval.
PM Imran inaugurated Roshan Digital Account to facilitate overseas Pakistanis
While addressing to the launching ceremony the premier said that Pakistanis who live in foreign lands are the prime assets for the country but they are frequently looked upon with distrust. “They are our best brains. Many even say they cannot become ministers or cabinet members. We need to change this attitude.” PM Khan said.
Prime Minister Khan said that at times “we lack expertise within the country and therefore require the services of overseas Pakistanis”.
Furthermore, He also added “In Dubai, they even brought foreigners because they lacked expertise. Here, we already have it in the shape of overseas Pakistani but with our attitude, we often discourage them.”
The Prime Minister of Pakistan labelled the overseas Pakistanis as most nationalistic and mostly we do not understand their value and waste their expertise.
While talking about Pakistan’s exports the PTI Chairman and PM of Pakistan said that despite the great challenge of COVID-19, Pakistan observes a rise in exports. “However, until they reach the minimum required level, we would have to facilitate the overseas Pakistanis and the Roshan Digital Account is an initiative in this regard.”
He is also optimistic regarding growth in the country as he revealed that Pakistan will see a major boom in the construction sector under the banner of the Naya Pakistan Housing Scheme.