Central Depository Company of Pakistan Limited (CDC) will facilitate investment by non-resident Pakistanis (NRP) in the Pakistan Stock Exchange through Roshan Digital Account with designated large-scale banks.
This was stated by Mr. Badiuddin Akber, CEO-CDC.
He said that Roshan Digital Account is a remarkable step taken by the State Bank of Pakistan to facilitate overseas Pakistanis. Similarly, allowing NRPs to invest in the stock market through Roshan Digital Account is further facilitation for NRPs which is the result of SECP’s vision to enhance ease of doing business for investors.
Badiuddin applauded the collaborative efforts of both SECP and SBP through which this important milestone was achieved.
Through this initiative, NRPs’ desire of investing in the stock market of Pakistan will be realized through an efficient, secure, and convenient mechanism. Since there is no additional requirement other than having a Roshan Digital Account, they just need to provide consent to their respective bank to link them with CDC.
Within 24 hours after the request, they will be able to trade without the need for any further documents or information as CDC is going to act as the information hub, connecting the stock market with the banks.
CDC is working on this project zealously with SBP designated banks. The service will be available to NRPs with the Roshan Digital Account, which is scheduled to be launched very soon. More details will follow soon.