Good news for overseas Pakistanis!
The SBP announced the plan to launch the scheme in a statement posted on Wednesday.
“Through the Roshan Digital Account, overseas Pakistanis can now acquire or obtain finance for residences in Pakistan,” it stated. “The Roshan Digital Account is a key State Bank of Pakistan initiative that was introduced on September 10, 2020 in partnership with commercial banks operating in Pakistan.”
Millions of overseas Pakistanis intending to conduct banking, payment, and investment operations in Pakistan can now do so through these accounts, according to the central bank.
Several financial products have been made available to abroad Pakistanis as part of the project, including Naya Pakistan Certificates for investment, Roshan Apni Auto for car finance, and Roshan Samaaji Khidmat for charitable donations.
According to the company, “Roshan Apna Ghar is a new lifestyle banking product in the same category.” “Overseas Pakistanis can now buy or get financing from the comfort of their homes abroad, without having to go to a bank branch.”
Expatriates might also buy or finance a home or other property from a bank’s pre-approved projects, according to the central bank.
The tax system is straightforward and conclusive. In the event of a property sale, the principle amount invested can be transmitted to another country without the need for approval.
“Profit margins are appealing. The SBP stated that “financing is available in both conventional and Shariah-compliant forms.”