Bank Alfalah has launched Roshan Digital Account, an initiative by the State Bank of Pakistan which provides a revolutionary way for Non-Resident Pakistanis (NRPs) to open an account and invest their earnings.
Overseas Pakistanis can apply for a Roshan Digital bank account through an innovative process that is completely secure, quick, and digitized. NRPs only need to visit Bank Alfalah’s website, select either Conventional or Islamic Roshan Digital Account option, and choose their desired currency. The account is available in various currencies i.e. PKR, USD, GBP, EUR, AED, and SAR.
Bank Alfalah has created a swift quick account application process where the account is activated in under 48 hours. This is possible through real-time screening of the application, a process introduced to provide NRPs with maximum convenience.
Through the Roshan Digital Account, NRPs immediately gain access to a suite of services from Bank Alfalah, such as Debit Card, Cheque Book, 24×7 Internet Banking, and free SMS Alerts.
The Roshan Digital Account also offers a host of investment avenues such as the Naya Pakistan Certificate, issued by the Government of Pakistan with highly lucrative returns, in addition to access to Pakistani’s stock market through the Central Depository Company (CDC), and Real Estate. These attractive options are pivotal for overseas Pakistanis to secure their hard-earned funds.
Keeping in mind the increase in the influx of remittances received from abroad, such as in FY 2020, the country received USD 23.12 billion as reported by the State Bank of Pakistan, the option of converting these assets into a safe investment was previously unavailable for millions of Pakistanis across the world, which has now been made possible by Bank Alfalah in partnership with the State Bank of Pakistan.
All of the funds credited to the Roshan Digital Account are fully repatriable and require no time-consuming approvals from SBP or Bank Alfalah. These funds can also be used to make fund transfers, bills and fee payments, and e-commerce transactions.
Through the Roshan Digital Account, Bank Alfalah is reinforcing its vision to provide the best value-added solutions to its customers in every corner of the globe.