oUR seRVICES
ACCOUNT OPENING
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INTRODUCTION
You must have an account with a duly licensed broker to trade in listed securities.
To this end, you would typically need to open a Brokerage Account and a CDC Sub-Account with your broker.
However, only non-broker clearing members of CDC does not require sub account opening forms. Any individual (over 18 years of age) or a registered corporate entity can open an account with an authorised broker subject to completion of account opening formalities including submission of duly filled in account opening forms along with requisite documents and satisfactory client due-diligence review.
ACCOUNT OPENING FORM
To download our account opening form,
Please click the link below.
FOR INDIVIDUALS
ACCOUNT OPENING FORM
FOR CORPORATES
ACCOUNT OPENING FORM
ROSHAN DIGITAL ACCOUNT
Roshan Digital Account is a breakthrough initiative of the State Bank of Pakistan providing a unique opportunity to our Overseas/Non-Resident Pakistanis (NRPs) to digitally open a bank account in any of participating back within 48 hours without submitting any physical forms and documents.
Utilities & Benefits of Roshan Digital Account:
The Roshan Digital Account (RDA) fully integrates the Pakistani diaspora with Pakistan’s banking and payment system by allowing them utilizing a full range of banking products and investment options. Some of the key benefits of RDA are:
Repatriation of Funds back to the accountholder’s country of stay allowed, if invested in:
- Pakistan Stock Exchange through CDC
- Naya Pakistan Certificates
- Approved Mutual Funds
- Approved Real State Schemes
- Can be utilized for household expenses, paying utility bills, educational expenses, etc.
- Roshan Apni Car
- Roshan Samaji Khidmat
- Any other payments and investments (Non Repatriable)
- Reduced Tax Rates and Remittance Charges
For further details and benefits of RDA, please click https://www.sbp.org.pk/rda/index.html
Stock Market Investments via Roshan Digital Account:
Besides a wide range of utilities and benefits of the Roshan Digital Account, one of the most unprecedented advantages of the RDA is the Stock Market Investment option, through which an Overseas/ Non-Resident Pakistani or any Pakistani having declared assets outside Pakistan can now invest in the shares listed at the Pakistan Stock Exchange, without going into any complex Stocks Trading account opening mechanism. All you need to have is a Pak Rupees Roshan Digital Account with any of the following Participating Banks integrated with the Central Depositary Company of Pakistan Limited (CDC) for providing Stocks Investments facility:
For Conventional Trading
(Across the board; in all 530 plus companies):
- 1. Bank Alfalah
- 2. United Bank
- 3. Habib Bank
- 4. MCB Bank
- 5. Samba Bank
- 6. Habib Metro Bank
For Sharia Compliant Trading
(in 210 plus companies considered to be sharia compliant)*:
- 7. Meezan Bank
- 8. Faysal Bank
- 9. Dubai Islamic Bank (Pakistan)
* Some Key Restraints in Sharia Compliant Trading:
All Roshan Digital Accounts being processed through Meezan, Faysal and Dubai Islamic Bank would only be allowed Sharia Compliant Trading;
- i. Can only trade in a total of 209 companies, currently being considered as Sharia Compliant, out of a total 530 plus companies listed at the PSX.
- ii. Cannot day trade or sell any stock even on the very next day of purchasing i.e. before it is delivered into your CDC account on T+2 settlement mechanism.
- iii. Cannot trade in Right Shares (being considered as Non-Compliant by nature)
- iv. Strictly cash based and any kind of leveraged trading is not allowed except sharia compliant financing only
Some Key Benefits and Important Points to Know:
- i. The Stocks Trading option is only available in PKR Roshan Digital Bank Accounts.
- ii. The facility to repatriate your funds back to your country of stay is only available in the RDA account.
- iii. Zakat is exempted on dividends while Withholding Tax on dividends and Capital Gain Tax on RDA to be taxed at the minimum rate (15%) of those who submit their annual tax returns.
- iv. All book keeping, custody of funds/securities, and settlement obligations of the stocks trading account through RDA are undertaken by the CDC and the trading facility is extended by UFSL Pvt. Limited through our online applications synced with the CDC.
- v. An RDA account can only be funded through remittances from abroad from the very same bank account through which it will be opened and repatriation of funds through the same bank account would also be possible. It can never be funded through any other source, bank account either local or even a Roshan Digital.
Simplified Stocks Trading Account Opening Mechanism through RDA:
(Digital processing through banks online portals) Stocks trading account opening was never so easy, it has become for our overseas Pakistani Community with the introduction of RDA.
- 1. All you need to do is to visit the website of any of the participating banks (integrated with CDC) and initiate your bank account opening process by filling in their online forms, providing the required details and uploading the required documents on the selected banks portal.
- 2. Once your bank account will be opened and you will receive the login credentials from the bank, you may then login into your online bank account and select the Stock Market Investment / CDC Account Opening option from the banks online portal.
- 3. You will be required to agree upon the Terms and Conditions and then ultimately select UFSL Pvt Limited as your preferred broker from the list of brokers providing RDA facility.
- 4. Once you will make the required selection and give your consent on the relevant terms and conditions, all your details and documents, which you had provided to the bank at the time of applying for the bank account opening, will be forwarded to CDC and would ultimately reach us.
- 5. Your Account will then be opened with the CDC and UFSL Pvt. Limited within next three working days, provided that we have received all your information and documents in line with our requirements.
For further details, please click https://www.cdcpakistan.com/businesses/others/roshan-digital-account/
Roshan DIgital Account Faq
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01: What is a Roshan Digital Account?
Roshan Digital Account (RDA) is a breakthrough initiative of the State Bank of Pakistan (SBP) and facilitated by all relevant stakeholders. The RDA enables Non Resident Pakistanis (NRPs) to open their bank accounts in Pakistan without being physically present in Pakistan and without submitting physical forms/documents via courier. The entire process is digital and requires only internet access.