BOP launches ‘First Free Roshan Digital Account’ for NRPs

LAHORE: The Bank of Punjab (BOP) has launched ‘First Free Roshan Digital Account’ after a rigorous process of monitoring and inspection over a few months to ensure protection of customer interest.

State Bank of Pakistan (SBP) gave its approval to BOP to launch ‘First Free Roshan Digital Account (RDA)’ to join an elite group of banks to launch this Digital Initiative for the non-resident Pakistanis (NRPs), says a press release on Saturday.

Roshan Digital Account is a revolutionary initiative spearheaded by the SBP. For the first time in Pakistan’s history, NRPs are being provided an opportunity to remotely open and operate bank accounts in Pakistan through an entirely digital and online proposition. RDA has attracted over $1 billion in a relatively short period of time. Digital account holders can also invest in stock market, real estate and “Naya Pakistan Certificates” issued by government of Pakistan, and also contribute in Ehsaas Kifalat Programme through their Zakat, Sadqaat etc. There are more products in the pipeline to facilitate overseas Pakistanis and their families. For BOP, RDA will cater needs of thousands of Pakistanis abroad who will be able to open bank accounts by visiting www.bop.com.pk through a simplified digital procedure. Customer can open account in multiple currencies (PKR, USD, EURO, GBP). BOP became the first bank to offer entire Roshan Digital Account Package, “Free of Cost” to its customers. This will help attract small depositors who were keeping away from RDA on account of associated operating costs.

BOP customers will avail various services without any charges as BOP’s RDA offers conventional & Islamic banking account with no minimum balance requirement. Free debit card (for NRVA) will be provided with zero courier charges. In addition to this, no charges will be levied on international usage of debit card at POS & ATM. Three free supplementary debit cards will also be available to RDA customers’ family members.

Free mobile App enabled with multiple life style banking facilities will also be available. BOP’s RDA customers will also enjoy multiple investment opportunities like Naya Pakistan Certificate (NPC).