Karachi: The State Bank of Pakistan (SBP) on Tuesday (August 16) issued directives to all commercial banks regarding the must-have features of the Roshan Digital Account (RDA) app, news sources reported. The central bank has asked the partner banks to incorporate the designated features into their standard mobile apps by November 15.
Reportedly, the central bank issued the notification to make digital transactions and account opening a seamless experience for Non-resident Pakistanis (NRPs). As per the notification, the following features are now a must-have for all bank apps:
● Apps should be able to open all types of new RDA accounts
● Options for investment in conventional and Islamic Naya Pakistan Certificates (NPCs) and requests for redemption or encashment of NPCs
● Option for requests for repatriation of funds from RDA and fund transfer services, including interbank fund transfers via RAAST and other platforms
● Bill Payment services, including utility and 1-Bill payments
● Online application or request and related processes for various RDA products, including Roshan Apni Car and Roshan Apna Ghar
● Ability to show the updated status of the application
● Online access to Roshan Samaaji Khidmat services
● Option to invest in Roshan Equity and the bank’s products
● Online option of a currency conversion transaction, with live visibility of exchange rate
● Online request for chequebooks, debit cards, credit cards, account statements, withholding tax certificates and account maintenance certificates
● Option of instant confirmation of transactional activity, complaint lodging and its resolution status, a live chat option, and any other option that would facilitate RDA customers.
● Options for investments in mutual funds, insurance, and government securities such as T-Bills, PIB
● Banks will mandatorily conduct third-party security assessments of the mobile apps and the channels providing connectivity to these third-party interfaces
Moreover, the notification also said that the apps would comply with the latest digital security policy to ensure the safety of funds and the account holder’s personal information.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
