Roshan accounts

The State Bank of Pakistan (SBP) has recently announced a scheme for overseas Pakistanis to open Roshan Digital Accounts (RDA). These accounts offer an attractive rate of return on investments made in dollar. There are tens of thousands of Pakistanis who have returned to Pakistan after working abroad for many years. During their time abroad, they sent their hard-earned saving into their foreign currency bank accounts maintained in Pakistan.

But since these overseas Pakistanis are now resident in Pakistan, they are not allowed to benefit from the RDA scheme. The SBP should review this scheme and also allow these thousands of overseas Pakistanis who are now resident of the country and have their foreign currency savings in foreign currency accounts being maintained in Pakistan to open and benefit from the RDA scheme.

Ejaz Ahmad Magoon (FCA)

Dubai