KARACHI: State Bank of Pakistan in couple of days would launch new product, Roshan Apna Ghar, for non-resident Pakistanis for acquisition of property in the country.
Non-resident Pakistanis could now purchase or obtain financing for a house in Pakistan through Roshan Digital Account.
Roshan Digital Account is a major initiative of SBP launched on Sept.10, 2020, in collaboration with commercial banks operating in the country, said SBP statement here on Wednesday.
These accounts provide innovative banking solutions for millions of Non- Resident Pakistanis (NRPs) seeking to undertake banking, payment and investment activities in Pakistan.
Under the initiative, several financial products have been provided to the Overseas Pakistanis including Naya Pakistan Certificate for investment, Roshan Apni Car for car financing and Roshan Samaaji Khidmat for donation to charities.
Roshan Apna Ghar is the new lifestyle banking product in the same category.
Non-resident Pakistanis could now easily buy or obtain financing with the comfort of sitting in their houses abroad without the need to visit a bank branch.
They could buy or finance a house from bank’s pre-approved projects or any other property. The tax regime was simple and final.
In case of sale of property, the principal amount invested could be remitted abroad without needing any permission. The profit rates were attractive. Financing was available in both conventional and Shariah compliant version.