What Is the Roshan Digital Business Account
The Roshan Digital Business Account (RDBA) is Allied Bank’s digital banking solution for non-resident legal entities. The account will enable entities to open a bank account and manage their finances and investments in Pakistan.
Who Can Open a Roshan Digital Business Account
Non-Resident Legal Entities registered or incorporated outside Pakistan can apply, including:
Key Features of the Account
Currencies and Digital Onboarding
The account supports PKR, USD, GBP and EUR. Onboarding happens entirely online, from anywhere in the world, with no paperwork sent to a branch.
No Minimum Balance or Hidden Fees
There is no minimum balance requirement and no maintenance fee. Entities get full access to their funds, with no withdrawal restrictions once the account is active.
Conventional and Islamic Modes
Entities can choose a conventional account or an Islamic account through Allied Aitebar. Both current and savings formats are available under either mode.
Real-Time Currency Conversion
Funds can be converted between foreign currency and PKR in real time. This applies to all transactions permitted under applicable laws and regulations.
Restrictions
How Money Moves In and Out
The account can only be funded through foreign remittances. Local deposits are not permitted, except for profit, returns or proceeds from the sale or maturity of approved investments.
This structure keeps the account aligned with State Bank of Pakistan rules for non-resident entities. Funds transferred abroad from the account do not require separate approval, and the account is fully repatriable.
Where You Can Invest
Investment options depend on which currency the account holds.
- Registered Debt Securities of Government of Pakistan (e.g. T-bills, PIBs, Sukuk & any other registered securities)
- Stock Exchange in Pakistan
- Mutual funds established & operated by Asset Management Companies
- Unlisted Shares on the stock exchange in Pakistan
- Private funds established & operated by Private Fund Management Company
Documents You Will Need
Applicants must submit their legal entity’s constituent documents, along with identity documents for the governing body. All identity documents must be notarised, apostilled or consularized.
Requirements vary slightly by entity type. LLPs, for example, need their partnership deed, registration certificate, partner details and an authority letter. Companies need their memorandum and articles of association, certificate of incorporation, and a board resolution naming authorised signatories.
Non-resident applicants must also submit proof of their non-resident status. Additional documents may apply depending on the entity’s home jurisdiction.
How to Get Started
Opening a Roshan Digital Business Account starts with the entity’s constituent documents and governing body identification. Once verified, the entity gains access to a transaction portal for managing the account and requesting investments.
Frequently Asked Questions
Q. What is the purpose of the Roshan Digital Business Account?
It lets legal entities registered outside Pakistan manage business operations and make investments digitally. There is no need for a physical presence in Pakistan.
Q. Are Islamic variants available under RDBA?
Yes. Allied Bank offers both conventional and Islamic RDBA options, each available in current and savings categories.
Q. Which currencies can an RDBA be opened in?
An RDBA can be opened in PKR, USD, GBP or EUR, depending on the entity's needs.
Q. Do I need approval to send funds abroad from my RDBA?
No separate approval is required. Funds can be transferred abroad from the account directly.
Q. Can a non-profit association open an RDBA?
Yes. Non-profit associations qualify for the Roshan Digital Business Account, provided they meet the standard registration requirements.
Q. What type of attestation is required for all entity documents?
All entity documents must be attested by a consularized, apostilled, or Notary Public
Q. How can I invest in “The Naya Pakistan Certificate?
Upon successful opening of your RDBA, you will create a password for a dedicated transaction portal from where you can request investments in Naya Pakistan Certificates.
Q. What Documents Are Required for Identification of Limited Liability Partnership (LLP) Customers?
Limited Liability Partnership Deed/ Agreement LLP Registration Certificate Issued by Competent Authority in Home Jurisdiction Document Having Details of Partners/ Designated Partners Authority Letter Signed by All Partners, Authorising the Person(s) to open and operate LLP Account. Any other Equivalent documents may be required depending on the jurisdiction of the customer’s incorporation/ registration.
Q. What Documents Are Required for Identification of Limited Companies/ Corporations Customers?
Memorandum & Articles of Association Certificate of Incorporation Resolution of Board of Directors for Opening of Account Specifying the Person(S) Authorised to Open and Operate the Account. Any other Equivalent documents may be required depending on the jurisdiction of the customer’s incorporation/ registration.
Q. Is RDBA repatriable?
This account is fully repatriable, allowing you to easily transfer funds back to your international account.
Q. How to perform transactions in RDBA?
Customers can perform transactions through the RDA transaction portal.
Q. What are requirements for verifying and profiling customers under the framework for remote/digital account opening of Non-resident Legal Entity?
The bank must assess the money laundering/terrorist financing risks posed by the customer and verify their information and constituent documents from reliable sources such as public registers or directly through the online portal/website of the issuing authority. If verification is not possible, notarized/consularized copies of documents can be obtained through the website/application. Additionally, the bank requires the customer to remit the initial deposits from their bank account with the same title maintained in their home jurisdiction (i.e., the customer’s country of incorporation/registration). The bank must also carry out due diligence for each person associated with the customer, including verification of CNIC/NICOP/POC through NADRA Verisys and screening against applicable sanctions regimes.
Q. Where to contact in case of queries or complaints?
In case of further queries or complaints, you can contact us at [email protected].