KARACHI: Leading Pakistani banks HBL & MCB Bank partnered with the Pakistani Consulate (Riyadh, KSA) to launch their upcoming Roshan Digital Account (RDA) drive, ‘Roshan Raho’ at the Pakistani Consulate’s Pakistan Day event.

The ‘Roshan Raho’ drive will take place in Riyadh and Jeddah to create further awareness of State Bank of Pakistan’s RDA initiative. This initiative allows non-resident Pakistanis to open bank accounts digitally from abroad for investment in Pakistan and take advantage of the saving schemes and investment opportunities in the country.

During the event, guests were briefed on investment opportunities in Pakistan and the importance of RDAs, particularly with respect to the economic contributions of the Pakistani diaspora to the progress and prosperity of their homeland. Participants were also apprised on HBL and MCB Bank’s ‘Roshan Raho’ drive to propagate further awareness of the RDA and its associated services, i.e. Roshan Apni Car auto financing and Roshan Apna Ghar home financing amongst others, to the Pakistani community in the KSA.

The event was graced by His Excellency Ameer Khurram Rathore, Ambassador of Pakistan to the Kingdom of Saudi Arabia and Tipu Usman, Deputy Head of Mission (DHM). The attendees were also virtually addressed by Muhammad Aurangzeb, President & CEO - HBL and Shoaib Mumtaz, President & CEO of MCB Bank. Also in attendance were members of Pakistani professional communities, members of the senior management teams of both banks.

Muhammad Aurangzeb, President & CEO - HBL said: “HBL is honoured to be associated with the RDA initiative. Over the course of the last one and a half year, we have been an active partner and a leading enabler in the evolution of the RDA account as it moved from being investment-oriented to now an integral part of lifestyle banking for overseas Pakistani’s.

Clients can now make investments, contribute to charities, purchase a car or a house using their RDA accounts. Shoaib Mumtaz, President & CEO of MCB Bank also said on the occasion, “The Pakistani diaspora has always been an invaluable asset for Pakistan and their contributions to our economy by way of remittances can never be over appreciated. It is due to their wholehearted participation in the RDA initiative, that more than $3.7bn has been remitted to Pakistan through Roshan Digital Accounts today. ”

Copyright Business Recorder, 2022