KARACHI: The State Bank of Pakistan confirmed that overseas Pakistanis have utilized the Roshan Digital Account (RDA) initiative to transfer a total of 12 billion dollars to Pakistan.
The central bank announced that overseas Pakistanis have established more than 900000 Roshan Digital Accounts. Through these accounts, expatriates have transferred a total of 12 billion dollars to their home country.
The State Bank reported that overseas Pakistanis show high confidence in the Roshan Digital Account system which enables them to conduct banking activities, make investments and send money back to Pakistan.
The initiative has secured $753 million in total investment, according to official data. The platform enabled overseas Pakistanis to remit $142 million in foreign exchange in October.
The central bank expressed gratitude to expatriates who maintain their faith and assistance in building Pakistan’s economy through digital banking services.
Overseas Pakistanis get new facility for vehicle sale and transfer
Meanwhile, overseas Pakistanis have been given a major facility for buying and selling vehicles, as biometric verification for vehicle transfer will now be available through the Pak ID mobile application.
The decision was made during a meeting between Director General Excise Umar Sher Chatha and NADRA Chief Executive Officer Umar Khan Azad. DG Excise Umar Sher Chatha said the Pak ID app facility will be launched from Friday.
Under the new system, overseas Pakistanis will be able to complete biometric verification for vehicle sale and transfer using the app. Users will enter the vehicle number, chassis number, and owner’s name to complete the process.
Officials said that re-registration of vehicles from other provinces will also begin later this week.
Previously, overseas Pakistanis had to send an authority letter verified by the Pakistani embassy for vehicle transfers. Authorities believe the new system will help prevent fraud and illegal vehicle transfers.
The move is expected to make the process faster, safer, and more convenient for Pakistanis living abroad.
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