Habib Metropolitan Bank Limited (HABIBMETRO) has joined the Roshan Digital Account (RDA) initiative of the State Bank of Pakistan.
Roshan Digital Accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs) and Resident Pakistanis (RPs) with declared offshore assets, who need a secure and convenient facility, to undertake banking-payments, fund-transfers and investment activities in Pakistan, remotely, from abroad. The RDA program is available for both Conventional and Islamic Banking customers around the world. NRPs can open the Roshan Digital Account, digitally, anytime and from anywhere, while RPs can visit a designated HABIBMETRO Bank near them.
The honorable Governor State Bank of Pakistan, Dr. Reza Baqir, lauded the swift efforts of HABIBMETRO in joining the group of banks who are offering the Roshan Digital Account and hoped that more banks would follow suit and become part of the fast evolving digital financial ecosystem of the country. Extoling the contribution of Overseas Pakistanis, he said that NRPs are continually increasing remittances through RDA. He went on to add that SBP, together with the Government of Pakistan, is working on innovative initiatives to provide attractive avenues of investment and saving for Overseas Pakistanis. He said RDA provides a full range of banking services and exciting investment opportunities to the Pakistani diaspora, including Naya Pakistan Certificates (NPCs) issued by the government, as well as the stock market and real estate.
The Governor SBP elaborated that initiatives of RDA and NPCs will help the country not only in attracting investment by NRPs but will also become a more consistent, reliable and long-term source of foreign exchange flows in the country. He disclosed that RDA has so far received more than USD 480 million from around 97 countries around the globe and over USD300 million have been invested in NPCs. Governor SBP said that the outcome of the RDA initiative so far has been very promising, with the number of accounts and amounts remitted and investment growing every day.
Speaking at the launch event, HABIBMETRO’s President & Chief Executive Officer Mr. Mohsin Ali Nathani stated: “HABIBMETRO and Habib Bank AG Zurich are committed to serving our customers regardless of where they are in the world. With the Roshan Digital Account, HABIBMETRO aims to facilitate Non- Resident Pakistanis, and Resident Pakistanis with declared assets abroad, in banking with us anytime and from anywhere in the world, conveniently and remotely. They can use the RDA program to invest in attractive opportunities while contributing to the progress and development of their homeland. We believe that the RDA will prove to be a game-changer for Pakistan, as it will give tremendous impetus to the national economy.’
HABIBMETRO has also engaged Mr. Jahangir Khan – the longest-reigning world-champion of Squash, as the ambassador for its RDA program who said that he decided to become one of the founding account-holders and ambassador of the HABIBMETRO Roshan Digital Account, simply because he thoroughly enjoyed his 40 years’ banking relationship with HABIBMETRO and Habib Bank AG Zurich.
The HABIBMETRO Roshan Digital Account offers digital account opening and banking to its customers, along with a wide range of investment opportunities with various tenors and attractive returns. NRPs and RPs can repatriate funds freely, while investing in Pakistan (in PKR & USD) through the Naya Pakistan/Islamic Naya Pakistan Investment Certificates and the Stock Exchange.
More details about the HABIBMETRO Roshan Digital Account are available on HABIBMETRO Bank’s website.