Govt to launch ‘Roshan Apna Ghar’ plan for expats - GulfToday

Govt to launch ‘Roshan Apna Ghar’ plan for expats


Picture used for illustrative purpose only.

Tariq Butt/ NNI

The State Bank of Pakistan (SBP) is launching a new product “Roshan Apna Ghar” for non-resident Pakistanis for acquisition of property in Pakistan.

“Non-resident Pakistanis can now purchase or obtain financing for a house in Pakistan through Roshan Digital Account,” said a statement issued by the central bank.

Picture used for illustrative purpose only.

Roshan Digital Account is a major initiative of the State Bank of Pakistan, launched on Sept.10, last year in collaboration with commercial banks. These accounts provide innovative banking solutions for millions of Non-Resident Pakistanis (NRPs) seeking to undertake banking, payment and investment activities back home.

Under this 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,” said the SBP, adding that non-resident Pakistanis can now easily buy or obtain financing with the comfort of sitting in their houses abroad without the need to visit a bank branch.

It said they can buy or finance a house from a bank’s pre-approved projects or any other property. “The tax regime is simple and final. In case of sale of property, the principal amount invested can be remitted abroad without needing any permission,” it added.

The State Bank of Pakistan

The SBP said that profit rates are attractive. Financing is available in both conventional and Shariah-compliant versions, it added. Prime Minister Imran Khan has always been keen to attract the overseas Pakistanis into investing in their homeland as Pakistan needs foreign exchange.

Foreign Minister Shah Mahmood Qureshi recently said that welfare of the overseas Pakistanis and prompt redress of their problems was the top priority of the government.

The foreign minister expressed these views as he held separate meetings with High Commissioners-designate Zahid Hafeez Chaudhri (Australia) and Ameer Khurram Rathore (Canada), at the Ministry of Foreign Affairs (MoFA).

Qureshi lauded the services of the diplomats and expressed confidence that they would help strengthen bilateral ties with Australia and Canada during their respective assignments in Canberra and Ottawa.

Qureshi lauded the services of Chaudhri as Spokesperson of the MoFA and Ameer Rathore as Additional Secretary.

The High Commissioners-designate assured the foreign minister to perform best of their abilities for promoting Pakistan’s positive image abroad.

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