PM Imran appreciates interest in Roshan Digital Account initiative

Says over 21,000 digital accounts have been opened, $24m received

Prime Minister Imran Khan on Saturday appreciated the interest of overseas Pakistanis towards the 'Roshan Digital Account' initiative that facilitates millions of overseas Pakistanis to undertake fund transfers, bill payments and investment activities in Pakistan.

In a tweet, the premier noted that over 21,000 digital accounts have been opened remotely and $24 million received.

"Number of accounts and amounts are growing everyday," he wrote.

Glad to see Overseas Pakistanis taking advantage of #RoshanDigitalAccount initiative of State Bank of Pakistan. To date more than 21 thousand digital accounts have been opened remotely & $24 mn received. Number of accounts & amounts are growing everyday. https://t.co/sEe2wiOYrG

— Imran Khan (@ImranKhanPTI) October 15, 2020

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.

These banks will provide innovative banking solutions for millions of non-resident Pakistanis (NRPs) and for the first time in Pakistan's history, they will be able to open an account in any bank through an entirely digital and online process, without having to visit any bank, embassy or consulate.

To open an account, all documentation requirements will need to be completed. Once complete, it will take 48 hours to open the account, said a statement.

The customer can choose whether to open a rupee dominated account, foreign currency or both and funds in the account will be fully repatriable, without the need for any regulatory approval.