SBP expands RDA to all non-resident persons

MG News | March 25, 2026 at 12:11 PM GMT+05:00

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March 25, 2026 (MLN): The State Bank of Pakistan (SBP) has updated its Consolidated Customer Onboarding Framework, extending Roshan Digital Accounts (RDA) to all non-resident individuals and legal entities.

The update, issued through Circular Letter, now includes non-resident persons as defined under the Income Tax Ordinance, 2001, covering companies and other juridical entities registered abroad.

This step aims to make Pakistan’s financial system more accessible for overseas investors and businesses.

SBP clarified that the account opening process for non-resident Pakistanis and Persons of Pakistani Origin (POC) remains unchanged.

Banks are instructed to ensure a seamless customer onboarding experience.

The updated framework is effective immediately, with all SBP-regulated entities required to comply fully with the revised instructions.

This measure supports Pakistan’s ongoing strategy to attract foreign investment and promote digital banking for the diaspora, reinforcing RDAs as a key avenue for cross-border financial transactions.

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