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November 27, 2020

Bank Alfalah unveils RDA to expats

Business

November 27, 2020

KARACHI: At an exclusive event hosted for non-resident Pakistanis in Dubai, His Highness Sheikh Nahayan Mabarak Al Nahayan, chairman of Bank Alfalah, introduced the Roshan Digital Account (RDA), an initiative of the government of Pakistan and the State Bank of Pakistan (SBP), a statement said on Thursday.

Sheikh Al Nahayan said: “Pakistan, by several important measures, is recognised as an emerging international financial services centre. This Roshan Digital Account has been designed from the ground up to cater to the needs of high-net-worth individuals through a sophisticated digital platform,” it added.

“This is a product that is rooted in the present and future progress of Pakistan’s economy as one of the emerging markets of the world – an economy where astute investors should want to invest, for the present and the future.”

State Bank of Pakistan Governor Dr Reza Baqir, who was present at the event as a special guest spoke about the vision and mission underpinning the creation of the Roshan Digital Account, which caters specifically to non-resident Pakistanis across the world.

He said, “We are very pleased to bring the Roshan Digital Account to the Pakistani diaspora. This repatriable account can be opened remotely, without physical presence, in multiple currency offerings and is at the cutting edge of technology and digitisation.”