The State Bank of Pakistan (SBP) will be launching this week a new housing product named Roshan Apna Ghar Scheme for overseas Pakistanis for acquisition of property in Pakistan.
Non-resident Pakistanis can now purchase or obtain financing for a house in Pakistan through Roshan Digital Account, which is a major initiative of the State Bank of Pakistan (SBP), launched on September 10th, 2020, in collaboration with commercial banks operating in Pakistan.
These accounts provide innovative banking solutions for millions of Non-Resident Pakistanis (NRPs) seeking to undertake banking, payment and investment activities in Pakistan. Under this initiative, several financial products have been provided to the Overseas Pakistanis, including Naya Pakistan Certificate for investment, Roshan Apni Car Scheme for car financing and Roshan Samaaji Khidmat for donation to charities.
Now, the State Bank of Pakistan (SBP) is launching the Roshan Apna Ghar Scheme, which is a new lifestyle banking product in the same category. The product allows non-resident Pakistanis to easily buy or obtain financing with the comfort of sitting in their houses abroad without the need to visit a bank branch.
They can buy or finance a house from bank’s pre-approved projects or any other property. The tax regime is simple and final. In case of sale of property, the principal amount invested can be remitted abroad without needing any permission. Furthermore, the profit rates are attractive and financing is available in both conventional and Shariah compliant version.