Roshan Digital Account: A Convenient and Secure Banking Solution

The Roshan Digital Account is a game-changer for Pakistani expats. It allows them to open a digital bank account in Pakistan from anywhere in the world, instantly.

This account is linked to their National Identity Card Number (CNIC) and can be managed through a mobile app. The app is available for both Android and iOS devices, making it easily accessible to a wide range of users.

With the Roshan Digital Account, users can send and receive money, pay bills, and even invest in Pakistan's stock market. The account also offers a debit card and a credit card, providing users with a range of financial services.

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A Roshan Digital Account is a bank account that can be opened and managed online by Non-Resident Pakistanis (NRPs) and Foreign Nationals having a Pakistan Origin Card (POC).

Bank AL Habib offers AL Habib Roshan Digital Account for NRPs and Foreign Nationals with a POC, allowing them to open and manage a Pakistani bank account through an online digital platform.

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This account facilitates payments, investments, and various banking facilities for overseas Pakistanis and expats while being abroad.

The State Bank of Pakistan has outlined permissible purposes for using a Roshan Digital Account, including remittances for investments in securities, government-issued bonds, real estate, and other approved purposes.

Dubai Islamic Bank Pakistan Limited (DIBPL) has been authorized by the State Bank of Pakistan as an agent Bank for Roshan Digital Account (RDA), making it the only Global Islamic Bank to offer Roshan Digital Account Services.

Dubai Islamic Bank Pakistan offers Roshan Digital Account (RDA) – A complete solution for the convenience of Non-Resident Pakistanis residing anywhere across the globe.

Bank AL Habib is the leading Roshan Digital Account service provider across the country, facilitating overseas Pakistanis and expats with a simple, secure, and convenient online digital account opening process.

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Opening a Roshan Digital Account allows you to open a Current or Savings Account in PKR or Foreign Currencies, such as USD, GBP, or EUR. You can also invest in Meezan Bank's Term Deposit products.

One of the key benefits is that you can send money to your own account outside Pakistan without any approval from the Bank or State Bank of Pakistan. This makes it a convenient option for overseas Pakistanis.

You can also pay utility bills and fees, and conduct other fund transfers in Pakistan through PKR and FCY accounts using Internet Banking facility. However, these pertain to local payments within Pakistan only.

Some of the additional features of the Roshan Digital Account include:

You can open a RDA account in multiple currencies, including Pakistani Rupee, USD, GBP, and Euro, as mentioned by ABL.

For those who need to manage their finances in a foreign currency, this option is a huge relief.

PKR, GBP, EUR, CNY, JPY, and USD are the currency options available for RDA accounts.

This flexibility is especially helpful for individuals who receive income or have expenses in a foreign currency.

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The Roshan Digital Account offers a range of convenient features that make it an attractive option for overseas Pakistanis. One of the standout features is the free of charge RTGS facility for transactions of PKR 1,000,000/- or above.

You can also collect Pay Orders by a nominated person without needing an Authority Letter from any branch in Pakistan. This makes it easier to manage your finances from abroad.

Meezan Bank's Roshan Digital Account offers reduced correspondent Bank charges for USD and EURO transactions through the SWIFT Code: DUIBPKKARDA. This can save you money on international transactions.

The Roshan Digital Account also comes with free of charge Cheque Book and Debit Card issuance. This means you can access your money and make transactions easily.

Here are some additional features of the Roshan Digital Account:

To open a Roshan Digital Account, you need to be a non-resident Pakistani client or a resident Pakistani client with declared assets abroad.

You'll need to provide a valid Identity Document, such as a CNIC, SNIC, NICOP, or POC, as well as a valid passport.

Non-resident clients will also need to provide proof of NRP status, which can be a POC, visa entry/exit stamps, or other relevant documents.

Residents with declared assets abroad can apply for a foreign currency Roshan Digital Account through Standard Chartered Bank Pakistan Limited's branches.

To open a Roshan Digital Account, you'll need to provide various documents, which may include:

Please note that you should upload documents in Urdu, English or Arabic languages only, and any other language should be uploaded with a certified translation from an online verifiable and authentic source.

Here's a summary of the required documents for non-resident and resident clients:

Please note that there are limitations around cross-border activities for residents of some countries, which may affect your ability to open a Roshan Digital Account or invest in Naya Pakistan Certificates.

To open a Roshan Digital Account, you can visit the State Bank of Pakistan's website at https://www.sbp.org.pk/RDA/index.html.

The process is straightforward, requiring you to provide basic information, enter an OTP received on your email, and choose between a foreign currency account or a Pak Rupee account.

You'll also need to upload required documents and a live photo, and receive a reference number via email. After that, you'll get account opening confirmation within 2 working days.

You can access your Roshan Digital Account globally via the mobile app or internet banking, allowing you to make local fund transfers, mobile top-ups, and bill payments.

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Meezan Roshan Digital Account is offered in both current and savings accounts under the Islamic concept of Qard & Mudarabah. This means that the bank and the depositor share the profits and risks of the investment.

The bank will share 75% of the gross income as the mudarib, while the depositor will share 25% of the gross income as the rab-ul-maal. This is a unique feature of Meezan's Roshan Digital Account.

The bank's share of the gross income can vary depending on the product and tenure of the account. For example, for the Meezan Roshan Digital Account (PKR), the bank will share 90% of the gross income as the mudarib.

Here's a breakdown of the profit assigned to each account type:

The weightage assigned to each product also varies, with the Meezan Roshan Digital Account (US Dollar) having a weightage of 0.58, while the Meezan Roshan Digital Account (GBP) has a weightage of 0.27.

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Want to Open a Roshan Digital Account?

You can visit the State Bank of Pakistan (SBP) website at https://www.sbp.org.pk/RDA/index.html for further information on Roshan Digital Accounts.

To open a Roshan Digital Account, you'll need to provide basic information, enter an OTP received on your email address, and provide account opening information.

You can choose to open a Foreign Currency Account or a Pak Rupee Account.

The required documents and a live photo will need to be uploaded during the account opening process.

You'll receive confirmation in your provided email with a reference number.

Account opening confirmation will be emailed within 2 working days.

You can open a Roshan Digital Account in Pakistani Rupee as well as in USD, GBP, and Euro in ABL.

Multiple currency options are available, including PKR, GBP, EUR, CNY, JPY, and USD.

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Accessing your funds is a breeze with a Roshan Digital Account. You can access your account globally via Mobile App.

To execute local fund transfers, Mobile Top Ups, and Bill Payments, you can use the Mobile App or Internet Banking. The Mobile App is convenient and can be accessed anywhere with an internet connection.

Your debit card and cheque book can also be used for the same objective, providing an alternative way to access your funds.

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