The State Bank of Pakistan (SBP) and Securities and Exchange Commission of Pakistan (SECP) are working together to launch digital accounts for resident Pakistanis. These bank accounts will be similar to Roshan Digital Accounts (RDA) that were launched for overseas Pakistanis.
Learn all about Roshan Digital Accounts in the video below
The Roshan Digital Accounts have proved to be a huge success for the government of Pakistan. They have made the entire remittance process smooth for those Pakistanis that are based abroad. The purpose of digital accounts for resident Pakistanis is to widen the investor base in Pakistan and increase foreign investment. Moreover, there is no requirement for additional documents for the investors. This has made the entire process even more smooth and hassle-free. The concept of digital banking also eliminated the need of the user to come physically and sign the documentation.
The launch of digital accounts is expected to take place in a few week’s time.
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