SBP introduces new mechanism for overseas Pakistanis in real estate sector

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KARACHI: State Bank of Pakistan has introduced a new mechanism to extend financing facilities to non-resident Pakistanis for investing in the real estate sector.

According to the details, the SBP has allowed funding facility to Roshan Digital Account (RDA) holders using their PKR accounts using digital channels.

The central banks have allowed the overseas Pakistanis to invest directly in the shares of companies in Pakistan, and units of funds licensed by the Security Exchange Commission of Pakistan (SECP).

Earlier, transactions in RDAs were allowed only through banking channels however, inflows through Money Transfer Operators (MTO) in RDAs have also been allowed by the central bank.

This initiative will increase the inflows of remittances in RDAs.

 

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