How To Apply For Roshan Digital Account

After rigorous measures administered by PM Imran Khan’s team on the issue of automated tax assessment, we finally have a viable initiative to look forward to. On August 22^nd, the local government directed the State Bank of Pakistan to initiate Roshan Digital Accounts for overseas Pakistanis. To that effect, here’s how to apply for Roshan Digital Account.

Related: EOBI Sahulat For Aged | Retiring Population Sector

This article presents the perfect guideline for registering a Roshan Digital Account from the local banking framework. The process for each bank has been accordingly streamlined for concerned individuals who are looking to apply for this service.

Before getting into the application process, you need to understand the product.

What Is A Roshan Digital Account? | Why Do You Need One?

According to the State Bank of Pakistan, the Roshan Digital Account is a supervised Fintech service specifically designed for overseas Pakistanis.

The government on 22^nd August approved the digital bank account facility for overseas Pakistanis to help them make payments, investments and avail various other facilities while being abroad.

In a meeting held with Prime Minister Imran Khan, it was revealed that the service would be launched through eight major banks currently operating in the country. Prior to specific features of a typical Roshan Digital Account, more detail has yet to be unveiled.

According to SBP, overseas Pakistanis will be able to open local and foreign currency accounts without visiting the country. As of yet, the service will be launched during the first week of September. After launch, NICOP holders overseas will be required to provide basic information and documents to SBP online.

For further information and due-diligence, please contact at (021) 111 727 273.

Rumored Features

• Access to a host of investment avenues on flexible tenors offering competitive returns.

• Efficient Facilitation of Inward / Outward Remittance Facility
• Master® Debit Card – giving you spending liberty at millions of merchants globally
• Utility Bills Payment facility | via ATM, Phone Banking, Mobile Banking, Internet Banking
• Access to a range of Wealth Management / Insurance products to help plan family’s future

(Investment schemes coming soon!)

The following banks offer application procedures and prior registration for Roshan Digital Accounts. Let’s see how it’s done!

 

How To Apply For Roshan Digital Account | Samba Bank Limited

The process is extremely simple and explained below for your ease of understanding:

Before landing on the main application page, the portal presents you with the following options.

• Fill the Digital Account Opening Form & upload the supporting documents using secured platform. Here, the information you submit remains confidential.
• Relationship Management team from your preferred branch in Samba Bank Limited (SBL) will contact you for a brief introduction. Validation of information submitted by you in the Digital Account Opening Form will be conducted accordingly.
• If the information provided by you is complete and all the required documents have been provided, wait a bit. SBL, in accordance with the guidelines from the State Bank of Pakistan, will open your account within 2 working Days.
• As soon as your account is opened, you will receive an email on your registered email address. Here, the process for activation of your account and Master ® Debit Card will be explained elaborately.

Investment schemes coming soon!

For documentation purposes, candidates are required to provide the following:

• Scanned Copy of Your CNIC / SNIC / NICOP / POC
• Scanned Copy of Your Passport (first 2 pages, Pakistani and / or foreign / other country)
• Photograph (Live Photo/Selfie)
• Signature (scanned on black white page)
• Proof of NRP status (e.g. scanned copy of POC, visa entry / exit stamps etc).
• Proof of profession and source of income / Funds (scanned copy of the following)
• Job Certificate
• Tax Certificate
• Salary Slip
• Rental Agreement

For filling application form, visit here to complete the procedure.

Investment schemes coming soon!

For further information and due-diligence, please contact at (061) 8048015.

Roshan Digital Account | Habib Bank Limited

According to HBL’s online platform, the following services have been listed in an official featurette:

• No minimum balance requirement
• No service charges applicable
• Customer can open a Foreign Currency Value Account (USD) or an NRP Rupee Value Account*
• Both these accounts are fully repatriable
• Account can be fed by Foreign Inward Remittances originating from the account holder himself / herself through formal channels
• Monthly account statements sent on registered email address
• Account to be opened by Non-Resident Pakistanis only

Before landing on the main application page, the portal presents you with the following options.

• Account to be operated singly
• Accounts are funded through foreign remittance only
• Local credits allowed to the extent of proceeds received from permissible investments made from the account
• Account to be opened in 48 hours if everything is in order

Investment schemes coming soon!

*As defined in the chapter 8 & Chapter 6 of the Foreign Exchange Manual.

For filling the basic HBL Information form, click here to view and submit accordingly. After you have submitted your application, a bank representative will contact you within 2 working days. Here on out, you’ll be guided through the account opening process.

Once prior procedure is complete, send required documents at [email protected].

For further information and due-diligence, please contact at (021) 111 111 425.

Personal Product Options | Muslim Commercial Bank

According to MCB’s official site, the Roshan Digital Account offers you a host of benefits. These include perks such as no minimum balance requirements and the ability to repatriate your funds. The salient aspects of the new account reveal the following:

Product Types:

• Roshan Digital Account – PKR
• Roshan Digital Account – FCY

Product Attributes:

• All Non-Resident Pakistanis are eligible
• Available in Pak Rupee (PKR) and US Dollar (USD)
• Funded through foreign inward remittance
• Digital On-boarding with minimum documentation

Features:

Before landing on the main application page, the portal presents you with the following options.

• Easy repatriation of funds to customer’s foreign account
• No minimum balance requirement
• Online Banking for Bill Payments and Funds Transfers within Pakistan
• Investment in Naya Pakistan Certificate issued by Government of Pakistan (please click here for details)
• Supervised Investment in PSX registered shares through Central Depository Company (CDC)
• Lastly, Investment in Term Deposits of the Bank

Please visit this link to go through MCB’s secure application process.

Investment schemes coming soon!

For further information and due-diligence, please contact at 1110 00622.

Meezan Roshan Digital Account | Meezan Bank

Account Opening:

• Easy repatriation of funds
• Opportunity to invest in Meezan Bank’s Mudarabah products
• No withholding Tax (WHT) on cash withdrawals through Cheque or ATM
• No withholding Tax (WHT) on non-cash transfers made during the tax year (July – June)
• Account can only be fed through home remittances, no other credits are allowed
• OTP secured digital/online account opening
• Account opening within 48 hours (subject to completion of all documentation/formalities)

Features:

Before landing on the main application page, the portal presents you with the following options.

• First Issuance: Free Checkbook
• Free Pay Order
• Free Internet Banking
• Online Branch Banking
• Zero restrictions on transactions
• Unlimited withdrawals and zero deductions

Meezan Roshan Digital Account is offered in both account types (current & savings) under the Islamic concept of Qard & Mudarabah.

To open a PKR account with Meezan Bank, visit this link and complete the form.

For registering and opening a USD account, visit this link and provide required information.

Investment schemes coming soon!

For further information and due-diligence, please contact at +92 (21) 111-331–331 & +92 (21) 111-331–332

For NRPs | Bank Alfalah

Bank Alfalah offers Roshan Digital Account to Non-Resident Pakistanis (NRPs) residing across the world. According to their official digital services manifest, the following information has been disclosed for general public:

Features

Before landing on the main application page, the portal presents you with the following options.

• Offered in two currencies: PKR and USD
• No minimum balance requirement
• Account can be fed by Foreign Inward Remittances only originating from the account holder through home remittances or SWIFT.
• Multiple investment opportunities: Naya Pakistan Certificate, access to stock market, etc.
• Easy repatriation of funds
• Free Debit Card
• Free SMS alerts
• Funds Transfer Facility
• Utility Bill Payment
• 24/7 Internet Banking
• Free E-Statements

Eligibility Criteria

Product will be offered to individuals above the age of 18, who are:

• Non-Resident Pakistanis
• Foreign Nationals having Pakistan Origin Card (POC)
• Employees or officials of the Federal Government or a Provincial Government posted abroad
• Resident individuals having declared their assets held abroad, as per wealth statement declared in the latest tax return with FBR

Required Documents

To process your application, the following supporting documents will be required:

• Scanned Copy of Your CNIC/NICOP/POC
• Scanned copy of Your Passport (first 2 pages, Pakistani and/or foreign/other country, latest exit stamp on Pakistani Passport)
• Photograph (Passport size)
• Live photo
• Signature (scanned on white page)
• Scanned copies of Overseas Pakistani Foundation (OPF) Card (if applicable)
• Proof of NRP Status (scanned copy of POC, visa, entry/ exit stamps etc.)
• Proof of profession and Source of Income/Funds (scanned copy of job certificate, tax return, rent agreement, salary slips etc.)

Investment schemes coming soon!

For further information and due-diligence, please contact at +92 21 111 225 226.

NICOP Banking Assistance | Standard Chartered Bank

Using their global network to assist customers, Standard Chartered is offering the following features for a Roshan Digital Account:

Before landing on the main application page, the portal presents you with the following options.

• Current Account offered in USD & PKR denominations
• Offered in Conventional and Islamic variants
• Account can be operated singly or jointly
• Internet Banking is offered
• Allows full repatriation and convertibility
• These accounts can be used for investment in Government securities (as allowed by the State Bank of Pakistan). Term deposits, receipt of investment proceeds and profits, foreign remittance of investment proceeds, and settlement amounts are applicable.
• Can be funded through remittances only via banking channel.
• In case of dormancy, it can be made operative by fulfilling formalities at domestic as well as overseas branches, representative offices or banking subsidiaries of SCB.

Note: Cheque Book & ATM facilities are currently unavailable for this service until further notice.

Please visit here to apply for a Roshan Digital Account with Standard Chartered Bank Pakistan.

Investment schemes coming soon!

For further information and due-diligence, please contact at (021) 111 002 002.

For Overseas Pakistanis | Faysal Bank

According to Faysal Bank’s official mandate for Roshan Digital Account, follow given instructions carefully:

Eligibility Criteria

• Individual Non-resident Pakistani Nationals (NRPs) having CNIC/ SNIC/ NICOP
• Foreign Nationals having Pakistan Origin Card (POC)
• Members of Overseas Pakistanis Foundation (OPF) and/or
• Employees or officials of the Federal Government or a Provincial Government posted abroad.

In case of a minor, the parent or legal guardian will operate transactions on their behalf until they’re eighteen.

Product Key Features

Faysal Islami Savings Account PKR

Before landing on the main application page, the portal presents you with the following options.

• Available in PKR currency
• Digital Account Opening: Account opening via digital means only
• Simplified KYC process
• Islamic Savings Account opened on the basis of Mudarabah contract
• Halal returns on balance maintained in account
• Debit Virtual Card: for online payments
• Debit Card for purchases/ cash withdrawal: issued only on request of customer (not mandatory features)
• Online banking, inter / intra bank fund transfers in Pakistan, bill payments and mobile top-ups
• Account credited by foreign inward remittances originating from the account holder through formal channels
• Repatriation of funds: Customers can withdraw their funds through transfer into any account internationally

Investment schemes coming soon!

Faysal Islami Savings Account USD

Before landing on the main application page, the portal presents you with the following options.

• Available in USD currency
• Digital Account Opening: Account opening via digital means only
• Simplified KYC process
• Islamic Savings Account opened on the basis of Mudarabah contract
• Halal returns on balance maintained in account
• Debit Virtual Card: for online payments
• Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions allowed)
• Account credited by foreign inward remittances originating from the account holder through formal channels
• Repatriation of funds: Customers can withdraw their funds through transfer into any account internationally

Investment schemes coming soon!

Faysal Islami Current Account PKR

Before landing on the main application page, the portal presents you with the following options.

• Available in PKR currency
• Digital Account Opening: Account opening via digital means only
• Simplified KYC process
• Account will be based on Qarz contract
• Debit Virtual Card: for online payments
• Debit Card for purchases/ cash withdrawal in Pakistan: issued only on request of customer (not mandatory features)
• Online banking, inter / intra bank fund transfers in Pakistan, bill payments and mobile top-ups
• Account credited by foreign inward remittances originating from the account holder through formal channels
• Repatriation of funds: Customers can withdraw their funds through transfer into any account internationally

Investment schemes coming soon!

Faysal Islami Current Account USD

Before landing on the main application page, the portal presents you with the following options.

• Available in USD currency
• Digital Account Opening: Account opening through digital means only
• Simplified KYC process
• Account will be based on Qarz contract
• Debit Virtual Card: for online payments
• Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions allowed)
• Account credited by foreign inward remittances originating from the account holder through formal channels
• Repatriation of funds: Customers can withdraw their funds through transfer into any account internationally

Investment schemes coming soon!

Faysal Islami Rehmat Account PKR

Before landing on the main application page, the portal presents you with the following options.

• Available in PKR currency
• Digital Account Opening: Account opening through digital means only
• Simplified KYC process
• Account offered under Current Remunerative category based on Modarabah contract
• Halal returns on funds deposits
• Debit Virtual Card: for online payments
• Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions allowed)
• Account credited by foreign inward remittances originating from the account holder through formal channels
• Repatriation of funds: Customers can withdraw their funds through transfer into any account internationally
• Charity payment by FBL to partner charitable institutions without any deductions in customer’s account upon maintenance of Rs. 500,000/- quarterly average balance.
• Various Free services:
  • Inter-bank Funds Transfer
  • Pay Orders issuance
  • Debit Card issuance (only first time)
  • e-Statement

Investment schemes coming soon!

Faysal Islami Rehmat Account USD

Before landing on the main application page, the portal presents you with the following options.

• Available in USD currency
• Digital Account Opening: Account opened through digital means
• Simplified KYC process
• Account offered under Current Remunerative category based on Modarabah contract
• Halal returns on funds deposits
• Debit Virtual Card: for online payments
• Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions allowed)
• Account credited by foreign inward remittances originating from the account holder through formal channels
• Repatriation of funds: Customers can withdraw their funds through transfer into any account internationally
• Charity payment by FBL to partner charitable institutions without any deductions in customer’s account upon maintenance of USD 3,000/- quarterly average balance.
• Various Free services:
  • Inter-bank Funds Transfer
  • e-Statement

Account Opening Process

• Visit https://digionboard.faysalbank.com/ or our official website https://www.faysalbank.com/
• Click on ‘Apply Now’ and fill in your personal information.
• Upload soft versions of required documents
• e-KCY through video calling by Bank’s representative with you
• Upon successful verification of details and documents, account activation completes withing 48 hours
• You will receive confirmation email along with IBAN number from the Bank.

Minimum Documents Required

• Original scanned CNIC/ NICOP/ POC
• Original scanned Passport (first 2 pages) (Pakistani and/or foreign/ other country)
• Proof of NRP status (e.g. scanned copy of POC, visa, entry/ exit stamps, etc.)
• Proof of Profession and Source of Income/ Funds (e.g. scanned copy of job certificate, tax return, rent agreement, salary slips, etc.)
• Photo of customer
• Signature (Electronic)
• FATCA/CRS Declaration

Please visit here to apply for a Roshan Digital Account with Faysal Bank.

Investment schemes coming soon!

For further information and due-diligence, please contact at +92 111 06 06 06.

Digital OPS Account Opening | UBL

According to UBL’s official mandate for Digital Banking for overseas Pakistanis, please read the following instructions carefully:

Visit this site for initiating registration process.

• Click on ‘Apply for Roshan Digital Account’ and follow the simple steps to open a USD or PKR current account. Before landing on the main application page, the portal presents you with the following options. Select relevant options and continue with the steps:

• Once you have completed the form and submitted the documents, a UBL representative will get in touch with you within 48 hours.
• To manage your account and investments, you will receive an email with a link to access UBL Net-banking. Use the link to create a username and password to access and manage your account digitally.
• You can view your account details including balance by logging in to Net-banking.
• You can now invest into Stocks & Bonds as well for attractive returns. Log in to Net-banking, Click on NRP Services & start investing!
  *Bonds Investment coming soon

Eligibility

• Individual Non-Resident Pakistani Nationals (NRPs) having CNIC/ SNIC/ NICOP;
• Foreign Nationals having Pakistan Origin Card (POC);
• Employees or officials of the Federal Government or a Provincial Government posted abroad.

Required Documents

• Original scanned CNIC/ NICOP/ POC
• Original scanned Pakistani Passport (first 2 pages) (for NRPs, OPF members, and Government Employees posted abroad)
• Original scanned other country Passport (first 2 pages) (for POC holders, if available)
• Proof of NRP status (POC, visa, entry/ exit stamps, etc.)
• Proof of Profession and Source of Income/ Funds (job certificate, tax return, rent agreement, salary slips, etc.)
• Live /digital photo through Webcam
• Signature on white paper/ scanned image of signature

Please visit here to apply and register for a Roshan Digital Account with UBL.

Investment schemes coming soon!

For further information and due-diligence, please contact at +92 111 825 888

Our government officially presents overseas Pakistanis the deal of the decade, so to speak.

Well, there you have it guys! This was all about how to apply for Roshan Digital Account. We’ll be regularly updating this post with future developments, so watch this space. If you have any questions, leave a comment in the section provided below.

Good luck!