Overseas Pakistanis are permitted to invest directly in businesses through the Roshan Digital Account.
On Tuesday, the State Bank of Pakistan permitted Pakistanis to invest directly in Pakistani enterprises and mutual funds via the rupee-based Roshan Digital Account.
Overseas Pakistanis can invest in Pakistani enterprises and funds managed by a private fund management organization licensed by the Pakistani Securities and Exchange Commission.
The SBP stated that it had made a concerted effort to integrate as many expatriate Overseas Pakistanis as possible into the local economy. The central bank took the latest step to expand investment and finance options for non-resident Pakistanis (NRPs).
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“To facilitate real estate investment in Pakistan, financing has been made available to RDA holders via their Pak rupee account via digital means. Additionally, inflows into rupee-denominated RDAs have been permitted via Money Transfer Operators (MTOs),” the SBP stated.
Previously, investing through rupee-denominated RDAs was permitted in registered government assets, publicly traded securities, mutual funds, self-financing real estate, and bank term deposits.
“The modifications outlined above will not only increase investment options for Overseas Pakistanis but will also make it comfortable to purchase property in Pakistan using bank financing,” the SBP stated.
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Similarly, before, they could only transfer funds into RDAs via banking methods. However, the SBP stated that inflows from abroad into RDA are now permitted via MTOs, which provides another cost-effective and straightforward process of transferring remittances, particularly to NRPs who may not have a bank account abroad.
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The SBP noted that “remittances received through RDA have now exceeded $2 billion.”
Overseas Pakistanis are able to invest in enterprises using Roshan Digital Account.
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