EXPAT FINANCING SCHEME TO BOOST PAKISTAN’S RETAIL BANKING SECTOR
February 24th, 2022
Pakistan’s retail banking sector is tapping into demand for Islamic consumer finance from religious-minded Pakistani expatriates via a government-backed digital accounts facility that enables remote buying of a property and a car in their home country.
In September 2020, the central bank, the State Bank of Pakistan (SBP), allowed the 8.6 million non-resident Pakistanis (NRPs) to open a bank account in Pakistan through a digital and online process, without any need to visit a bank branch in person. These digital accounts, known as ‘Roshan Digital Account’ ...
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