PM Imran introduces ‘Roshan Digital Account’ for overseas Pakistanis

07:15 PM | 10 Sep, 2020
PM Imran introduces ‘Roshan Digital Account’ for overseas Pakistanis

ISLAMABAD – Prime Minister Imran Khan on Thursday inaugurated the 'Roshan Digital Account', which he termed a big step for Pakistani expatriates to participate in nation-building.

Roshan Digital Account is an initiative which will facilitate millions of overseas Pakistanis to undertake fund transfers, bill payments and investment activities in the South Asian country.

"Our biggest asset is the overseas Pakistanis but they are often looked upon with suspicion, and we were unable to tap their potential previously," said the premier, at the outset of his address to the launch ceremony in Islamabad.

"They are our best brains. Many even say they cannot become ministers or cabinet members. We need to change this attitude."

The Roshan Digital Account is a major initiative by the State Bank of Pakistan (SBP), together with eight other commercial banks operating in the country.

"For the first time in the country’s history, Non-Returning Pakistanis (NRP) will be able to remotely open an account through an entirely digital and online process without any need to visit a bank branch, embassy, or consulate," the Prime Minister's Office said in a press release issued earlier today.

"The customer can choose either foreign currency or rupee dominated account, or both. Funds in these accounts will be fully repatriable, without the need for any regulatory approval," the statement read.