Prime Minister PM Imran Khan on Thursday has lauded the Pakistani expats for their overwhelming response on “Roshan Digital Account” stating that the deposit amount in the accounts touched the $200 million mark.
Imran Khan, while regarding Overseas Pakistanis as a ‘great asset,’ in his Tweet; said funds sent by expats through Roshan Digital Accounts created by the State Bank of Pakistan (SBP) crossed the $200 million mark on Wednesday.
PM Imran Khan wrote:
“I want to thank our great asset, Overseas Pakistanis. MashaAllah funds sent by them through #RoshanDigitalAccounts created by SBP crossed $200 mn yesterday. The pace is accelerating: first $100 mn came in 76 days & the next $100 mn came in only 28 days.”
I want to thank our great asset, Overseas Pakistanis. MashaAllah funds sent by them through #RoshanDigitalAccounts created by SBP crossed $200 mn yesterday. The pace is accelerating: first $100 mn came in 76 days & the next $100 mn came in only 28 days. https://t.co/sEe2wiOYrG
— Imran Khan (@ImranKhanPTI) December 24, 2020
Roshan Digital Account received its highest-ever single day remittance of US$ 7.70 million on Dec 09, 2020.
SBP Governor Dr Reza Baqir has also urged the finance and banking sector experts present at the event to play a greater role in the opening “Roshan Digital Account” and to encourage overseas Pakistanis to invest in their homeland via the new venture.
Appreciating the leadership of Prime Minister Imran Khan, the SBP governor stated that the premier took bold steps to strengthen the economy which the previous leaderships were hesitant to take.
What is Roshan Digital Account?
According to the Central Bank, Roshan Digital Account is a major initiative by SBP, in collaboration with commercial banks operating in Pakistan. These accounts provide innovative banking solutions for millions of Non-Resident Pakistanis (NRPs) seeking to undertake banking, payment and investment activities in Pakistan.
This is the first time in Pakistan’s history that NRPs are being provided an opportunity to remotely open an account in Pakistan through an entirely digital and online process without any need to visit a bank branch.
How to Open the Account?
Opening the account will require only a basic set of information and documents. Banks have been asked to complete all necessary customer due diligence within 48 hours.
Launching of the RDA
Back on September 10, the current Prime Minister Imran Khan launched the Roshan Digital Account project aimed at providing digital banking facilities to overseas Pakistanis for the first time in the country.