JS Bank offers to open RDA accounts via WhatsApp

KARACHI: JS Bank has become 14th bank to join the State Bank of Pakistan’s Roshan Digital Account (RDA) initiative, allowing Non-Resident Pakistanis (NRPs) to open bank accounts digitally, a statement said on Friday.

JS Bank is offering NRPs to open their accounts via WhatsApp, enabling unmatched convenience for users. This is part of a multi-channel platform approach, which includes JS mobile and internet banking, the bank said. A launch ceremony to mark the occasion was held in Karachi. Governor (Acting) SBP Murtaza Syed was prominent with his presence along with founder JS Group Jahangir Siddiqui, president and CEO JS Bank Basir Shamsie, and business community and corporate leaders.

Syed congratulated Jahangir Siddiqui and management of JS Bank for launching a unique value proposition for RDA. He expressed optimism that by joining RDA club, JS Bank would be able to digitally expand across borders to provide unparalleled banking and payment solutions to NRPs.

He was confident that given its track record of achievements and connections across the border, it was an opportune time for JS Bank to enter the market and create a difference through innovative and out-of-the-box solutions to NRP demands.

He hoped that JS Bank would go extra mile by taking advantage of its brand and international presence and contribute to significant growth and success of RDA by attracting new clientele from untapped jurisdictions.

Elaborating on rise of digitisation, the governor observed the trend was reshaping economies across the world. He noted Pakistan is also among economies where digitisation is facilitating massive change. This shift is being supported by the SBP and is clearly discernible in domains like payments, e-commerce, fintechs, and e-government, through which new approaches to deliver services and connect people and businesses to the financial system are picking up at brisk pace, altering the course of the world for good.

JS Bank president and CEO Basir Shamsie in his address said digitisation of financial services has revolutionised traditional banking. Today’s global banking customer demands limited physical interaction with brick and mortar, 24/7 customer support, instant gratification, and zero margin for error, he added. He went on to say that JS Bank was honored to become part of the SBP’s RDA initiative and wanted to enable expatriates to open bank accounts in Pakistan and use them for savings and investments as easily as they would in their countries of residence.