Pakistani Diaspora Open Over 90,000 Roshan Digital Accounts In 5 Months

Governor State Bank of Pakistan (SBP) Dr. Reza Baqir says Roshan Digital Account has become a successful international account program after more than 92,000 Roshan Pakistan digital accounts opened in 97 countries in just five months.

In a video message on the occasion of the Roshan Pakistan Digital Accounts ceremony organized under Dubai Islamic Bank, SBP Governor Dr Baqir Reza termed Roshan Pakistan Digital Accounts as a successful project and said that 92,000 accounts opened from 97 countries in just five months adding that Pakistan has recently crossed the mark of $500 million received through the digital accounts.

Reza Baqir said that the investments through these accounts could now be made in Euro and British Pound after initially allowed in Dollars, adding that the overseas Pakistanis were provided with an opportunity of better profits over investments through these accounts.

He further said that digital accounts are more popular in Middle East countries than in any other part of the globe.

Dr Murtaza Syed, Deputy Governor, State Bank, said that Roshan Pakistan is the largest market for digital accounts in UAE and Saudi Arabia.

The event was also addressed by Dubai Islamic Bank Chairman Muhammad Al-Sharif, CEO Junaid Ahmed, MD Deposit Protection SBP, former national cricketer and brand ambassador Dubai Islamic Bank Mohsin Khan and others.

Note that, Prime Minister Imran Khan had launched the Roshan Digital Account project aimed at providing digital banking facilities to overseas Pakistanis for the first time in the country in September last year.

State Bank of Pakistan (SBP) with the support of eight major banks in the country launched the Roshan Digital Account project under which Pakistani diaspora could be able to avail the banking facility from a digital payment system and the consumers would be able to open their bank accounts without visiting bank, embassy or consulate.

Under the initiative, the Pakistanis living abroad would be able to operate their accounts without visiting the country and could avail facilities of direct banking, bill payment and other e-commerce facilities.

According to SBP, these accounts could also be used for investments in the stock exchange and property within Pakistan. The consumers would also have the option to either open a Pakistan currency or foreign currency account.