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Frequently Asked Questions (FAQs)

Roshan Digital Account (RDA) is a unique opportunity for Non-Resident Individual Pakistanis (NRIPs) to remotely open a bank account with SBP designated Pakistani banks through an entirely digital and online process. This account will enable them to avail banking services like fund transfer, remittances, bills & fee payments, and invest in various instruments including stocks / shares. Upon opening the RDA, NRIPs can also opt to invest in Capital Markets of Pakistan by opening custody account with CDC and Roshan Digital Bank Account.

Q.What is SBP and what role does it play in Roshan Digital Account?

A.State Bank of Pakistan (SBP) is the central bank of the country. SBP has introduced the concept of Roshan Digital Account for Non-Resident Pakistanis, enabling them to avail banking services like payments and remittances and invest money in a variety of instruments including shares/stocks. For more information, please visit

Q. What is SECP?

A.Securities and Exchange Commission of Pakistan (SECP) is the apex regulator of Pakistan Capital Market. To learn more about SECP, please visit

Q.What is CDC and what role does it play in Roshan Digital Account?

A. Central Depository Company (CDC) is the sole shares depository and the custodian of investor assets in the Pakistan Stock Market. CDC is the only entity handling the electronic (paperless) settlement of shares transactions carried out at the Pakistan Stock Exchange.
CDC serves as the information hub between banks and stock market for Roshan Digital Account holders. For those who are interested to invest in stock market through RDA, CDC will open a Custody Account for them.

Q. What is PSX and what role does it play in Roshan Digital Account?

A.Pakistan Stock Exchange Limited (PSX) is the country’s only stock exchange where trading of shares takes place. It is a marketplace where investors can buy and sell shares of listed companies and other securities through securities brokers, also called Trading Right Entitlement Certificate (TREC) holders. PSX has been rated among the world’s best performing stock market for the past many years. To learn about PSX, please visit

Q.What is NCCPL and what role does it play in Roshan Digital Account?

A. National Clearing Company of Pakistan Limited (NCCPL) is the clearing and settlement provider of the Pakistan Stock Market. It will generate your Unique Identification Number (UIN). For more details, please visit

Q. What kind of investments can I opt for via the Roshan Digital Account?

A. Roshan Digital Account allows multiples options for investment which are as follows:

  • Shares listed on the stock exchange in Pakistan;
  • Pakistani-Rupee-denominated Deposit products of the banks maintaining the account;
  • Pakistani-Rupee-denominated Debt Securities of Government of Pakistan (including Pakistani-Rupee Naya Pakistan Certificates, T-bills, PIBs, Sukuk and any other registered securities of the government as notified from time to time); and
  • Residential and Commercial Real Estate.

Q. Who is eligible to open this account?

A.Only the following can open Roshan Digital Account:

  • A Non-Resident Individual Pakistani (NRIP);
  • A Non-Resident POC Card holder;
  • Employees or officials of the Federal or Provincial Governments posted abroad in the tax year;

Q. Which documents are required to open Roshan Digital Account?

A.Scanned copies of at least the following documents are required to open Roshan Digital Account:

  • Passport (Pakistani and/or foreign country)​
  • Proof of Non-Resident status
  • Proof of Profession and Source of Income/Funds
  • For salaried individuals: Job Certificate / Salary Slips
  • For business persons: Tax Return / Rent Agreement / any other Proof of Income
  • Live Photo/Digital Photo

Q. How is it different from other bank accounts?

A.Roshan Digital Account can be opened digitally without any requirement of visiting a bank branch or embassy / consulate. It is a fully functional account that NRIPs can use for basic banking services like routine transactions & channeling remittances and investments in Pakistan Stock Market, Government Bonds and Securities.

Q. How can I start investing in Pakistan Stock Market if I have a Roshan Digital Account?

A. First, you have to select “Investment in Stock Market” on your bank’s portal / website / app. With the following three further steps, you can then start investing in Pakistan Stock Market through Roshan Digital Account after having an active RDA account

  1. Click on the ‘Consent’ tab to share Roshan Digital Account details with Central Depository Company (CDC) and other capital market entities
  2. Click ‘I Agree’ to Terms and Conditions for Investing in Pakistan Capital Market
  3. Selection of Broker

You will receive an ‘Acknowledgement Email’ from CDC as soon as we receive the consent and information from your bank. In 24 business hours of receiving the acknowledgement mail from CDC, provided that your information/credentials were found complete and correct, you will receive an Account Opening Package email from CDC, comprising of the following actions and details:

  1. Opening of your Trading Account with your selected broker.
  2. Creation and Registration of your Unique Identification Number (UIN).
  3. Opening of your Custody Account (CDC Account).
  4. Activation of Direct Settlement Service (DSS) in your Investor Account (if you have opted for the same).
  5. Credentials of CDC Web Access Login ID and Password.

Q. Which brokers are currently offering Trading Accounts for Roshan Digital Account Holders?

A.To see the list of brokers that are offering Trading Accounts for Roshan Digital Account, please click on the following link;

Q. How long does it take to open a Roshan Digital Account?

A.Roshan Digital Account will be opened within 48 hours, provided all account opening requirements are compliant to the bank’s requirement.

Q. Which banks are offering the option to invest in Pakistan’s Capital Market through Roshan Digital Account?

A. To see the list of banks that are offering the option to invest in Pakistan Capital Market through Roshan Digital Account, please click on the following link:

Q. What is the benefit of opening a CDC RDA account through Islamic Bank?

A. By opening a CDC RDA Account through an Islamic Bank, investors would be able to invest only in Shariah Compliant securities available in KMI 30 index. However, day trading through an Islamic Bank is not permissible.

Q. What is the benefit of opening a CDC RDA account through Conventional Bank?

A. Investors have the facility to do day trading. In addition, one can invest in both categories of securities i.e. Islamic and Conventional.

Q. Can I open multiple Roshan Digital Accounts with banks?

A.Yes, an investor can open multiple banks accounts. All the necessary information for account opening can be obtained from the investor’s bank of choice.

Q. Can I open multiple CDC Investor Accounts through my RDA Bank Account(s)?

A.A. Currently, only one CDC Investor Account can be opened for a UIN at a time and tagged through a single RDA Bank Account.

Q. Can I open Joint account in CDC Investor account through RDA?

A. This facility of opening a joint CDC investor account through RDA is unavailable at the moment.

Q. What if I DO NOT receive an Account Opening Package Email from CDC in 24 business hours?

A. In case you do not receive an Account Opening Package email from CDC, you will receive either of the two responses from CDC:

  1. Discrepancy found in your provided information / documents, asking you to provide the same in correct form or provision of some additional information.
  2. “No Response” or “Rejection” status from your selected broker, seeking your advice on further action.

Account opening and trading eligibility is dependent on activities of NCCPL and the selected broker, due to which, certain delays maybe experienced in the overall processing. In case you do not receive any of the above responses from CDC, you can email us at [email protected]  or call us at + (9221) 38623275 to inquire about the status of your account opening.

Q. What is a Trading Account and what is its purpose?

A trading account is opened on behalf of the Investor with a broker and is used for trading of shares.

Q. What is a Custody Account and what is its purpose?

A. Custody Account is a shares custody account opened with CDC. This account is opened with CDC where the securities are held in custody. This account is used for the settlement of securities’ buying and selling executed by RDA clients.

Q. Can I change the broker?

A. Yes, you can change your broker through CDC Web Access, as per following guidelines:

Q. Can I change the bank account associated with my CDC Investor Account?

A. Yes, you can change your affiliated bank for RDA. However, you must firstly close your existing CDC Investor Account, ensuring that no fund transfer, corporate action, or Broker /CGT obligation is pending. Once the process is complete, you will have to generate a new account opening request through your desired Roshan Digital Account using the relevant bank’s portal.

Q. What control do I have over my securities and cash with CDC?

A. You can view your securities and cash balance through CDC’s services within CDC access portal ( Moreover, the portal also grants you control for earmarking of cash and securities for trading and identifying any discrepancies.

Q. What is DSS and what role does it play in Roshan Digital Account?

A. Direct Settlement Service (DSS) is a web based service through which the trades executed by the client through their brokers are settled by CDC. Since the cash and securities are held by CDC on behalf of the clients, and trades are executed through the brokers, hence DSS service is the platform through which the settlement of the cash and securities is undertaken by CDC. Further details about Direct Settlement Service are available on the following link:

Q. Is there any minimum amount required to open an account?

A: No.

Q. How can I deposit funds to my Investor Account?

You can transfer the funds from your RDA bank account to CDC’s designated bank account of the same bank through “Invest in Capital Market” option available in your internet banking portal. Upon transfer, system will automatically allocate the funds to your relevant Investor Account within few minutes (if the transfer has been executed within trading hours). The details of the designated banks connected with CDC for RDA investment enablement can be accessed here:
The step by step process is detailed below:

  • into your Roshan Digital bank’s internet portal registered with CDC.
  • Select Invest in Capital Market option.
  • Transfer the Funds from your RDA bank account to CDC Bank Account maintained with the same bank through Transfer / Top up process.
  • Once Funds are transferred to CDC, the same would be made available in your exposure after retaining Rs.5,000/- for the purpose of Broker Commission and CDC charges (only in case of initial deposit; no deductions will be made on subsequent deposits).
  • Fund transferred after trading hours will become available in next business day’s exposure.

Q. Do I need to do anything else before initiating my first trade?

A. Before you initiate your first trade, you have to initiate a Fund Transfer request from your Roshan Digital Account to CDC’s Designated Bank Account maintained with your bank (details of which were provided with the Account Opening Package).

Q.How long does it take to reflect the amount transferred from my RDA Bank Account to CDC Account?

A.The amount transferred from RDA bank account to CDC’s designated bank account shall be reflected on CDC Access as per following turnaround time:

TimeTurn Around Time
Amount transferred within trading hours during business dayFew Minutes
Amount transferred after trading hoursNext Working Day

Q. Why is Rs. 5,000 held and not being shown against my initial deposit?

A. Rs. 5,000 is held from your initial deposit in lieu of recurring charges related to your account, which include but are not limited to the following:

  • Custody Charges
  • Transaction Fee
  • Broker’s Commission and other charges
  • Annual Charges

For details on charges refer “Schedule of Fees for IAS” available on

Q. Can I transfer the amount to my CDC Investor account from any other RDA bank account which is not affiliated with the CDC Investor account?

A. No, funds can only be transferred to CDC from your affiliated RDA Bank Account. Any amount transferred from any account other than the affiliated bank account would not be made available for the purpose of trading.

Q. How much time does it take to withdraw the funds from CDC RDA account to my RDA Bank Account?

A. It takes two (2) working days from the date of receipt of withdrawal request to transfer the requisite amount available in CDS account to RDA Bank Account.

Q. Can I transfer my funds to any other bank account from CDC account?

A. No, you can only transfer the funds to your affiliated Roshan Digital Account from respective CDC account.

Q. Can I deposit physical securities in my RDA account opened with CDC?

A. No, Deposit of physical securities is not allowed in RDA account opened with CDC.

Q. Where can I see the updated position of Cash and Securities held in my CDC Investor Account opened through RDA?

A. To view your cash, securities and account activity, visit CDC Web Access (

Q. What is the Withdrawal process?

A. The withdrawal process is illustrated below:

Q. How do I initiate my first trade/purchase transaction?

A.You can purchase shares through broker’s online trading app / portal easily within the amount transferred by you to CDC.

Q. How long after my purchase will I receive the shares in my CDC account?

A. You will receive your shares two business days after transaction (T+2). CDC will pay the corresponding amount on your behalf against the purchase and will receive shares in your CDC Account. CDC will notify you about the transaction through email.

How do I sell shares?

A. You can sell your already purchased shares through your broker’s online trading app / portal easily.

Q. When do I receive the cash against my sale?

A. You will receive cash two business days after transaction (T+2), CDC will transfer the shares out of your CDC Account and receive cash on your behalf.

Q. Can I trade by myself or do I have to call a broker to execute my trade?

A.You need to appoint a broker also called a Trading Right Entitlement Certificate (TREC) holder for trading in Pakistan’s Capital Market. The broker will grant you access to online trading application or suggest alternative method for registering your trade requests.

Q. Can I transfer securities from my RDA account to other IAS / sub-account?

A.No, transfer of securities is not allowed from RDA account opened with CDC to any other IAS / Sub-Account.

Q. Can I transfer securities from my other IAS / sub-account to my RDA account?

A. No, transfer of securities is not allowed from another IAS or Sub-Account to RDA Account opened with CDC.

Q. Can I get securities from any other account through gift deed in my RDA based CDS Account?

A. No, gift transactions are not allowed in RDA account opened with CDC.

Q. How would I know about Broker’s Commission and other trading details?

A. Upon opening of the trading account by the broker, a welcome email is received by the client where all commission and trading related details as well as guidance is provided by the broker.

Q. What is UIN and its purpose?

A. A. In order to authenticate each trade and transaction executed in the stock market, NCCPL registers investors by assigning a Unique Identification Number (UIN). Registered UINs are provided to the stock exchange by NCCPL, and brokers are mandated to enter UIN with every single trade transaction.

Q. How can I repatriate/withdraw my proceeds and earnings from the Stock Market?

A. In order to repatriate the funds from the Capital Market, first you would need to withdraw the funds from CDC Account to your Roshan Digital Bank account following the process of withdrawal from where you can easily repatriate such funds by giving separate instructions to your Bank.

Q. Is there any additional fee for Direct Settlement Service?

A. No, this service is Free-of-Cost for Overseas Pakistanis.

Q. How do I pay Broker’s Commission?

A. CDC will pay your broker’s commission from the cash transferred by you from your Roshan Digital Account to CDC bank account.

Q. What are NCCPL’s charges and how do I pay them?

A. NCCPL’s Capital Gain Tax Tariff and Settlement Charges (applicable on the clearing of trades) will be deducted by CDC, details of which will be provided to you. Further, for schedule of NCCPL’s Fee and Charges, please refer to

Q. What is the applicable CGT rate and how it is processed?

A. As per current tax laws, the Capital Gain Tax (CGT) is 15%. The Capital Gain Amount of 15% on the gain is withheld until National Clearing Company of Pakistan Limited (NCCPL) updates the exact CGT amount of client. Excess amount kept on hold is released on the basis of CGT computation provided by NCCPL.

Q. Can I apply for subscribtion using Book Building process through my CDC Investor account opened through RDA?

A. Yes, RDA based CDS Account holder can apply for Book Building process of subscription for new securities. Guidelines in respect of subscription through book building process can be accessed through following link

Q. What is the process of subscribing for IPO through my CDC Investor Account opened through RDA?

A. For subscription of IPO, following steps are required to be undertaken:

  1. IPOs can be subscribed through the following process: Visit
  2. Register yourself for using eServices Portal
  3. Fill the eIPO application and submit the application.
  4. Download PDF copy of the application
  5. Transfer funds to CDC’s designated bank account from your affiliated RDA bank account
  6. Email PDF copy of the application along with evidence of fund transfer at [email protected].

For details in respect of subscription, guidelines are placed on the following link which may be accessed here

Q. I have successfully subscribed for IPO but have executed the payment through my regular bank account instead of RDA account; what will happen to my securities if my application is successful?

A. All such securities will be credited in what is called an IPO facilitation Account. You will then need to transfer the securities either in a CDC-IAS Account (other than RDA) or a Sub – Account (new or existing) within 40 days from your date of subscription. Please note that such securities will not be transferred in RDA Account.

Q. I have successfully subscribed for IPO but have done the payment through my regular bank account instead of RDA account, so in which account will I get my refund?

A.In this case, you will receive your refund in the same account through which you have made the payment, and the subscription would not be considered eligible.

Q. How do I receive my Corporate Action entitlements?

A. All securities based Corporate Action entitlements such as (Bonus or Rights) are directly credited into your CDC Account. The process of disbursement of dividend to Roshan Digital Account Holder (RDA) is that the Dividend is first credited in Central Depository Company of Pakistan Limited bank account, and after process of due diligence and validation of shareholding, CDC credits it into client’s bank account as per FE Circular and in accordance with 9c of Chapter 20 of FE Manual

Q. How can I subscribe for Right Shares being a Roshan Digital Account holder?

A.Guidelines for right subscription can be accessed here:

Q. In which account will my dividend amount be credited?

AAs per the updated Companies (Distribution of Dividend) Regulations, 2017, dividends of Roshan Digital Account Holder would be credited into CDC’s designated bank account(s) maintained with the same bank from where NRP initiated the RDA request. CDC will then credit the actual dividend to respective RDAs of Non-Resident Individual Pakistanis.

Q. In case I return to Pakistan on permanent basis, what would be the status of my CDC Investor Account opened through RDA?

A. Since returning to Pakistan will result in change in your Residential Status from Non-Residential to Residential, you would be required to open a new CDS account CDC-IAS or Broker on the basis of your CNIC.

Subsequently, you will have to submit a written request (in original) to CDC for transfer of securities from your Roshan Digital CDC account to newly opened CDS account duly signed as per CNIC along with the copy of CNIC and cancellation of NICOP/POC. Lastly, proof of cancellation of employment/visa will be required.

Q. What are the requirements and methodology for closure of CDC account?

A. For closing an account, you need to send account closing request from your registered e-mail address mentioning your CDC Account Number to [email protected]. Before sending the account closure request, you would need to ensure that all the securities in the account are disposed-off prior to initiating account closure request, and there are no pending corporate actions in the account.

Q. Can I nominate next to Kin?

A. Yes, you can nominate next of kin by providing the request from your registered email address, along with the valid copy of CNIC/NICOP specifying the relation.

Q. Who can I keep as nominee?

A. You can keep only your immediate blood relations as nominee which include your Brother, Sister, Spouse, Mother, Father, Son and Daughter.

Q. What is the Withholding tax on dividend income?

A. It varies from sector to sector, however, general WHT is 15%.