KARACHI: Capital market entities, banks and the State Bank of Pakistan (SBP) marked the launch of Roshan Equity Investment (REI), a product that enables non-resident Pakistanis under the umbrella of Roshan Digital Account (RDA) to invest in Pakistani equity market.

The installation was launched in a gong ceremony held at the Pakistan Stock Exchange (PSX) on Thursday.

The REI account allows investors to invest in the local stock market just as they can take advantage of auto finance, real estate finance, and government bond purchase facilities through their RDAs.

The gong ceremony took place in the PSX trading room and the gong was struck by guest of honor, SBP Governor Jameel Ahmad. PSX Chairman Dr. Shamshad Akhtar, CDC CEO Badiuddin Akber, NCCPL CEO Muhammad Lukman, CEOs of RDA offering banks and major securities brokers as well as board and senior management Participating organizations, including PSX COO Nadir Rahman, were main attendees on the occasion.

He said that the RDA had provided non-resident Pakistanis with an opportunity to connect to the national banking system and proved Speaking on the occasion, Jameel Ahmad said that the launch of REI under the RDA banner of the State Bank was an important step in the development of the country’s capital. market. has helped attract foreign exchange inflows of over $5.2 billion due to its ease of use, fund repatriation and return on investment offered.

Governor SBP stressed the importance of enhanced collaboration among all stakeholders to plan and work towards the development of deeper, more efficient and more inclusive capital markets in the country.

Shamshad Akhtar called the facility a revolutionary step forward for overseas Pakistanis to create their wealth and contribute to the country’s economy. “The Roshan Equity Investment Facility for Roshan Digital Account Holders is a great opportunity to benefit not only non-resident Pakistanis themselves, but also the economy of Pakistan by channeling the currencies the country has much needed.”

SECP Chairman Aamir Khan said in a video message that the enabling environment created by digital stock market and mutual fund account opening, electronic IPO process and the link to Roshan’s digital account led to 11% growth and 6% investor growth. basis during fiscal years 2021 and 2022 respectively.

The CEO of Central Depository Company (CDC) of Pakistan Limited, Badiuddin Akber, said that it currently provides comprehensive digital settlement services to more than 10,000 RDA holders globally.