Under the Roshan Digital Account (RDA) scheme, SBP envisaged to provide multitude of value added services to our valuable non-resident Pakistanis (NRPs), facilitating them in making investments and availing financing. One such attractive investment avenue is the Naya Pakistan Certificates (NPCs). These certificates offer a variety of lucrative and competitive returns that fits the basic saving needs of NRPs. The NPCs are offered in both Conventional and Islamic variants offering lucrative returns in four denominations: PKR, USD, GBP and EUR.

Since the inception of the NPCs, the returns in PKR denominated NPCs provided adequate premium that surpassed the returns provided in other government securities at that time. The basic objective behind this move was to compensate the NRPs who have stood by Pakistan through every thick and thin. However, during the last few months, SBP had to increase the policy rate in order to curb inflation in the country. Due to this increase in the policy rate, the returns on different lending and deposits rates had also seen an increase, rendering the returns on NPCs less attractive for the RDA holders.

In order to keep NPC a valuable investment proposition, SBP pursued the case with the Ministry of Finance (NPC being a sovereign debt instrument issued by the Government of Pakistan) to revise the rates of return on the PKR denominated NPCs that would meet the expectations of the diaspora. Also, SBP requested the Ministry to decrease the minimum investment amount as majority of the NRPs are from the blue-collar segment of the society and it is very difficult for them to save the amount to avail the benefits of the NPCs. After detailed and thorough deliberations, Ministry of Finance in September 2021 notified an increase in the NPC returns on PKR denominated NPCs. The following table depicts this increase:

In addition to the increase in the rates, Ministry of Finance keeping in view the requirements and to cater to the needs of blue collar individuals have also decreased the minimum investment amount in all currencies. The details of the change in minimum investments can be found in the below table:

The revision of NPC rates and minimum investment amount in all currencies shows SBP’s resolve to continue to own the RDA scheme. SBP will continue to vigilantly monitor different aspects of RDA and come up with new products and services meeting RDA customers’ needs.

Roshan Trends
Number of Accounts Opened (Cumulative)
Fund Received (Cumulative in USD Million)
Naya Pakistan Certificates (Cumulative in USD Million)
Use of Funds
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Roshan Product
State Bank of Pakistan (SBP), in collaboration with stakeholders, has always endeavored to maximize the value proposition of Roshan Digital Accounts (RDA) by offering a wide array of products and services. One of these services is to provide an opportunity to invest in Pakistan Stock Exchange. The objective of this service was to digitize the investment process in listed equity market through a seamless and a completely digital process.

Although the service to invest in the stock market has been available since the inception of RDA, but the experience was not standardized and varied highly across banks. This created an unintentional friction in the overall process thus leading to a sub-par customer experience. Also, the service was not being marketed properly, as many customers were not aware of this opportunity, thus not reaching its true potential. This feedback was received from various interactions with NRPs through events, webinars and the RDA customer satisfaction survey conducted by SBP.

In order to cater to the expectations of our Pakistani diaspora, SBP in collaboration with Pakistan Stock Exchange and Central Depository Company initiated an activity that would further improve the customer experience and standardize the investment process. Through collaborative efforts, SBP has now branded the proposition as Roshan Equity Investment (REI) that not only provides the service its own distinguishing identity within the RDA banner but also has improved the account opening, investment and disinvestment process, thus enhancing the value proposition for RDA customers. Under the REI banner, SBP, banks and PSX have also initiated a dedicated marketing activity for better awareness of RDA holders.

Key Features

The RDA holders through the REI can choose from a wide array of companies listed on the Stock Exchange in different sectors, and build a well-diversified investment portfolio that meets their investment needs.

The REI, along with many other products in the RDA suite, shows State Bank of Pakistan’s commitment towards RDA and efforts for making the RDA journey more convenient, efficient, and smooth.

Roshan Spotlight


SBP, in collaboration with its partners, offers an exciting opportunity in the form of Roshan Equity Investment for our non-resident Pakistanis to invest in the listed securities at Pakistan Stock Exchange in completely digital and remote manner.

Roshan Gallery
President & CEO of Bank Alfalah Mr. Atif Bajwa during a networking dinner for RDA customers in Melbourne, Australia.
(R-L) Head of Digital Onboarding JS Bank Mr. Jalal Jamil and GM Outreach TCF Mr. Isfandyar Inayat with moderator Khalid Malik during a podcast on Roshan Samaaji Khidmat hosted by JS Bank.

Please share your questions or feedback related to the Roshan Digital Accounts initiative with SBP at

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