Karachi: The State Bank of Pakistan (SBP) announced new investment opportunities for overseas Pakistanis and encourage the inflow of funds in the Roshan Digital Account (RDA) via Money Transfer Operators (MTOs), according to news published on August 31.
SBP has allowed non-resident Pakistanis (NRPs) to use their RDAs for direct investment into shares of Pakistani companies and units of funds operated by private fund management companies. In addition to this, SBP has also allowed RDA holders to use their PKR Account via digital channels to avail financing facilities.
Reportedly, MTOs can be used for the inflow of funds into the rupee-denominated RDA. Previously, investment via RDA was allowed in listed securities on the stock exchange, term deposits of the banks, real estate with self-financing, and registered government securities. With its introduction, overseas Pakistanis will have more investment opportunities and will be able to buy property in Pakistan through bank financing. Moreover, it will facilitate NRPs to send remittances, particularly those who don’t have a bank account.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
