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oversees
Pakistanis is the ability to use this RDA facility to invest in Pakistan's stock market or buy Pakistani government bonds directly from their accounts. At the start of the initiative, eight of Pakistan's banks agreed to provide this facility to non-resident Pakistanis, including some of the largest players in Pakistani banking such as Faysal Bank, Habib Bank Limited (HBL) and United Bank Limited (UBL). As of now, 14 banks are offering Roshan Digital Account Services, both in conventional and Islamic Banking.
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RDA enabling investment by non-resident
Pakistanis in Naya Pakistan Certificates (NPCs) issued by the Government of Pakistan, in USD, GBP, EURO and PKR in both conventional and Shariah-compliant forms. On NPC, only a 10% withholding tax on profits is applicable that is full and final. No filling of
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Overseas
Pakistanis can open these accounts which are available in either rupee denomination or a foreign currency denomination (such as pound, euro or dollar). Funds in these accounts are fully repatriable (no limit on inflow or outflow of money from the accounts). Another service available for
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The RDA banking process is entirely digital with accounts setup and operated online. The facility has simplified procedures for opening an account compared to the challenges non-resident
Pakistanis faced in accessing banking services before this facility was available. The account can be set up
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Resident
Pakistanis who have assets abroad declared with FBR can also invest in USD/GBP/EURO denominated NPCs. To do so, they can open a Roshan Digital Account in foreign currency by visiting a bank branch in Pakistan.
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RDA services were launched in
September 2020 and as of end of October 2022 over US $ 5.2 billion have been deposited by oversees Pakistanis in these accounts.
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https://www.psx.com.pk/psx/themes/psx/uploads/RDA_list_of_bank.pdf
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249:. November 25, 2020.
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669:Banking in Pakistan
247:The Express Tribune
65:September 2020
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641:Murtaza Syed
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396:Organization
317:. Retrieved
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282:. Retrieved
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48:Company type
637:(2019–2022)
617:Yasin Anwar
595:(1999–2005)
521:Abdul Qadir
35:Native name
663:Categories
605:Salim Raza
490:Facilities
319:2023-12-15
284:2022-12-05
197:References
150:Imran Khan
643:(2022-22)
631:(2017–19)
625:(2014–17)
619:(2011–14)
613:(2010–11)
607:(2009–10)
601:(2006–09)
589:(1993–99)
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547:(1971–75)
541:(1971–71)
535:(1967–71)
529:(1960–67)
523:(1953–60)
517:(1948–53)
507:Governors
84:see below
474:Programs
380:Currency
175:Services
80:Services
649:(2022-)
539:Durrani
160:History
112:Website
72:2020-09
70: (
62:Founded
623:Wathra
611:Kardar
575:Parekh
527:Hasnie
127:/index
101:Parent
629:Bajwa
581:Hanfi
569:Hanfi
129:.html
90:Owner
635:Reza
557:Kazi
142:Urdu
125:/rda
121:.org
119:.sbp
123:.pk
117:www
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