State Bank of Pakistan has decided to broaden the horizon of Roshan Digital Account and provide more options to overseas Paksitanis. In this regard, the State Bank of Pakistan (SBP) will soon be launching two new initiatives under its Roshan Digital Account scheme namely Roshan Apni Car and Roshan Samaaji Khidmat.
Although this hasn’t been publicly announced by SBP, however, Senator Faisal Javed took to the twitter to announce the same.
The Roshan Digital Account is a major initiative of the State Bank of Pakistan (SBP) and major banks in Pakistan to attract dollar based deposits from overseas Pakistanis acaross the globe. The Roshan Digital Accounts was launched in September 2020 by Prime Minister Imran Khan and so far more than $1 billion has been raised from the Non-Resident Pakistanis.
Previously, PM Imran Khan thanked the Pakistani diaspora abroad for trusting the Paksitani Banking system and sending the deposits in excess of $1 billion. The dollar based inflows helped the government in managing its Current Account position.
Keeping in view the high potential of RDA, SBP is now expected to allow Overseas Pakistanis to avail car financing from their Roshan Digital Accounts. This is expected to bring massive response as Foreign Based Paksitanis have the capacity to repay the loans but cannot avail the loans due to documentary issues.
Furthermore, Overseas Pakistanis will be able to directly pay charity and donations to registered charities from their Roshan Digital Account.
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