Since the launch of Roshan Digital Account (RDA) initiative by State Bank of Pakistan (SBP), the Pakistani diaspora across the world have shown tremendous response and have opened more than 450,000 accounts from 175 countries with the total value of inflows touching almost USD 5 billion.

However, due to the changing political landscape, we observed some nefarious elements trying to malign certain national level initiatives, including RDA. Although there was no truth in such claims whatsoever, however, it was necessary to present the factual position to avoid any negative impact on the performance of RDA. In order to thwart the malicious propaganda and give some confidence to our valuable non-resident Pakistanis (NRPs), SBP in collaboration with Meezan Bank, HBL, Dubai Islamic Bank and Faysal Bank arranged a mega webinar on August 27, 2022. As these banks are highly proficient in the Islamic Banking concepts and have deep roots in the overall Islamic Banking landscape of the country, the theme majorly focused on the Islamic side of RDA with the title ‘RDA – World Class Banking, the Islamic Way.’

The webinar was graciously joined by Dr. Imran Ashraf Usmani and Allama Shabbir Hasan Maisami, well-known and prominent Islamic Scholars and Dr. Adeel Malik, an expert Economist currently working as an Associate Professor at the University of Oxford. The panel was also joined by Deputy Governor SBP Dr. Murtaza Syed, MD Deposit Protection Corporation Syed Irfan Ali, and the CEOs of the four participating banks. While thanking the NRPS for their contribution, Dr. Murtaza Syed said that we thank the efforts and patriotism of our fellow Pakistanis who have always played their unconditional role in the uplift of the country.

The panelists talked about the real economic scenario of the country and pressed the importance of RDA for NRPs and Pakistan. The webinar also provided an opportunity to SBP and banks to show our commitment towards Islamic Banking and our efforts towards adoption of the concept in the longer run. Our NRPs have been very receptive when it comes to Islamic Banking, and this was our chance to display that RDA’s design specifically deals with these needs. Overall, the event was a success as it was watched by NRPs from all around the world. NRPs asked a variety of questions that were answered by our panelist in live Q&A session. The recorded session can be viewed on Facebook and Youtube.

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Roshan Product
Every Pakistani dreams to have a calm and comfortable life with all the amenities and luxuries that they can think of. To bring these dreams into fruition, Pakistanis work day in, day out, not only here in Pakistan but living far away from their families in various global jurisdictions. One of the dreams that many Pakistanis cherish is to have a suitable car for self and their family. The NRPs too have this desire of having a car for their families back home in Pakistan.

Realizing this, SBP embarked on a journey to provide a digital process for NRPs to request their RDA banks for car financing. This journey became a reality, when last year after detailed deliberations and collaboration with leading car manufacturers, banks and insurance companies, SBP launched the Roshan Apni Car (RAC) initiative under the RDA banner.

Features: Under the Roshan Apni Car, Overseas Pakistanis with a Roshan Digital Account are able to get financing at attractive rates to provide cars for their family members living in Pakistan. The product is available in both Conventional and Shariah compliant variants.

Faster processing: With digital loan application process, documentation needs have been streamlined and the loan approval time has been substantially reduced. If all the documents for car financing submitted to banks are complete, the processing and disbursement takes up to 4-5 days.

Cheaper: Financing rates for Roshan Apni Car are highly competitive and financing is available at both fixed or floating rate. The financing rates further decrease, if the customers can pledge their deposits and Naya Pakistan Certificates to get financing for their cars.

Multiple cars: In domestic market, it is typically very difficult to get a loan for more than one car. However for RDA holders, up to 3 cars are available under lien based financing and up to 2 cars under non-lien based financing.

Fast-track delivery: Car manufacturers have agreed to cut the delivery time of cars especially for RDA customers.

Insurance rates: This is not all, RDA customers can also avail highly lucrative insurance rates on their cars with rates as less as 1.4%.

To date, NRPs have availed financing of more than PKR 8 billion worth of financing and approximately 1,700 cars have been delivered to their loved ones in Pakistan. In addition, more than 2,700 applications have been approved and 860 financing applications are under process under the RAC banner. This shows that the NRPs are highly receptive towards the product offering. RAC also provides value added features in the desired cars, for which the customers otherwise pay additional amount to the car manufacturers and vendors.

Roshan Apni Car, along with many other products in the RDA suite, shows State Bank of Pakistan’s commitment towards our valuable NRPs that have been serving their country through every thick and thin. This also shows that SBP is mindful of the needs of NRPs and is committed to serve them in the best possible way.

Roshan Spotlight

Recent torrential rains and flooding have wreaked havoc across many areas of Pakistan, leaving millions stranded and homeless and battling with health issues. In these desperate times, be a ray of hope for millions of Pakistanis and donate generously in various provincial and federal governments’ flood relief funds through Roshan Samaaji Khidmat. You can also donate to leading charity organizations across Pakistan that are tirelessly working to help the flood affectees. Find more information on making donations here.
Roshan Gallery
Then Governor (A) SBP Dr. Murtaza Syed during a mega webinar on RDA – World Class Banking, the Islamic Way.
Visitors at Independence Day kiosk on RDA by Bank Al-Habib in collaboration with Pakistan Embassy in Rome, Italy.

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

[email protected]


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