What is a Roshan digital account?

The Roshan Digital Account (RDA) is a customized investment account designed to facilitate non-resident Pakistanis’ plans for investing in Pakistan-based Savings Schemes.In addition, It is available in both Pakistani rupees and United States dollars. Moreover, It allows millions of non-resident Pakistanis (NRPs) and Pakistanis with abroad-based wealth to conduct banking, payment, and investment activities in Pakistan using digital onboarding and banking solutions.

Since the launch of RDA services in September 2020, overseas Pakistanis have deposited more than $800 million in these accounts.

Moreover, You may open and maintain a Roshan Digital Account if you are a non-resident Pakistani or a resident with wealth declared abroad.

How to create a Roshan Digital account?

Theis Digital Account will allow prospective customers to open an account remotely in Pakistan through a completely digital online process without visiting any branch. The three main steps are following;

  1. Basic information.
  2. Your email address is required to receive the OTP & to provide opening account information.
  3. Additionally, There are two types of Digital Accounts: Foreign Currency Accounts and Pak Rupee Accounts.

Roshan Digital Account announced by PM Imran Khan

 Documents required for non-Resident: 

  1. Authentic ID (CNIC/SNIC/NICOP/POC, etc.)
  2. Passport required.
  3. Evidence of NRP status (POC/Visa entry/exit stamps, etc.)
  4. Sources of funding & proof of profession
  5. Signature
  6. Live photo
  7. If applicable, valid Overseas Pakistanis Foundation membership card

Document required for Resident:

Moreover, Citizens with assets abroad can apply for foreign currency. The Roshan Account is available through Standard Chartered Bank Pakistan Limited branches.

In addition, To open a foreign currency Roshan Account, residents will have to visit the branch with their latest wealth statement from the FBR or a signed affidavit detailing the value of their assets held abroad as specified in their latest wealth statement from the FBR.

Please note:

Moreover, Some countries have limitations regarding cross-border activities that residents can undertake. Consequently, some banks may not offer Roshan Accounts or invest in Naya Pakistan Certificates for residents of certain countries.

Investment in Term Deposits of the Bank:  

Roshan Digital PKR Account Holders can only make investments in PKR denominated investments. Additionally, Roshan Digital FCY Account Holders can only invest in USD denominated investments.

Features of Roshan Digital account? 

  1. No minimum balance requirement
  2. No initial deposit 
  3. Offered in conventional and Islamic variant
  4. Both are saving and current options available.
  5. Multiple currencies Options
  6. Debit card and cheque book
  7. Online and Mobile banking
  8. Half-yearly profit payout for saving account
  9. Funding
  10. Repatriation 
  11. Credit card

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