CDC to facilitate investment in Pakistan Stock Market by Non Resident Pakistanis (NRPs) through Roshan Digital Account
“Central Depository Company of Pakistan Limited (CDC) to facilitate investment by Non-Resident Pakistanis in the Pakistan Stock Market through Roshan Digital Account with designated large-scale banks” said Mr. Badiuddin Akber, CEO-CDC.
He further stated that Roshan Digital Account is a remarkable step taken by the State Bank of Pakistan to facilitate Overseas Pakistanis. Similarly, allowing NRPs to invest in Stock Market through Roshan Digital Account is a further facilitation for NRPs which is the result of SECP’s vision to create ease of doing business for investors. He applauded the collaborative efforts of both SECP and SBP through which this important milestone was achieved.
Through this initiative, NRPs desirous of investing in the Stock Market of Pakistan will be able to do so through an efficient, secure and convenient mechanism. Since there is no additional requirement other than having a Roshan Digital Account for NRP to start investing in Stock market, they just need to provide consent to their respective Bank to link them with CDC. Within the next 24 hours, they will be able to trade without the need of any further documents or information as CDC is going to act as the information hub, connecting stock market with the banks.
CDC is working on this project zealously with SBP designated banks. The service will be available to NRPs with the availability of the Roshan Digital Account, which is scheduled to be launched very soon. More details will follow soon.