Investing through a Roshan Digital Account: options for overseas Pakistanis

A Roshan Digital Account (RDA) can invest in Naya Pakistan Certificates, PSX shares through Roshan Equity Investment, the bank’s mutual and pension funds, rupee deposits, government securities and property. For certificates issued from 1 June 2026, rupee Naya Pakistan Certificates pay 11.75% to 12.75% and dollar certificates 6.75% to 7.75%, with a 10% final tax on profit. Money in the account is fully repatriable.

What are my Roshan Digital Account investment options?

The Pakistan Stock Exchange lists these as allowed RDA investments:

• Shares listed on the Pakistan Stock Exchange (PSX), through a Roshan Equity Investment account.
• Rupee deposits of the bank where you hold the RDA.
• Rupee government debt: Naya Pakistan Certificates, T-bills, PIBs, Sukuk and other registered government securities.
• Residential and commercial property.

Banks add their own products on top. Meezan Bank, for example, lists Islamic Naya Pakistan Certificates, Al Meezan mutual funds (rupee RDA only), a Roshan Pension Plan, and home and car finance. HBL’s Roshan Pension Plan starts at Rs 1,000.

What are the Naya Pakistan Certificate rates?

Naya Pakistan Certificates (NPCs) are issued by the Government of Pakistan. The State Bank of Pakistan (SBP) is the custodian and banks only sell them. Rates for certificates issued from 1 June 2026, as notified by the Finance Division on 15 May 2026 and sent to banks in SBP’s FD Circular Letter No. 04 of 2026:

The rupee rates went up on 1 June 2026. The March 2026 rupee rates were 10.75% to 11.50%.

How they pay:

• 3, 6 and 12 months: profit and principal together at maturity.
• 3 and 5 years: profit every six months.
• Early exit: allowed, but you get the rate of the next shorter tenor, and no profit at all before three months.
• No automatic rollover at maturity. Certificates can’t be transferred but can be pledged for a loan in Pakistan.

Rupee RDA holders buy rupee certificates. Foreign-currency RDA holders buy the USD, GBP, EUR, SAR and AED ones. Islamic NPCs don’t have a fixed rate: they pay an actual Mudarabah profit worked out each month.

Since March 2026, non-resident companies and other entities that can hold these accounts may also buy NPCs, not only individuals (SBP FD Circular Letter No. 02 of 2026).

How much tax do I pay on Naya Pakistan Certificates?

10% of the profit is deducted at source as full and final tax. You don’t have to file a Pakistani tax return for this profit. NPCs are also exempt from compulsory zakat.

So a 5-year rupee NPC at 12.75% nets about 11.48% after tax. CPI inflation in Pakistan was 10.3% in September 2026. Dollar NPCs pay in dollars, so the rupee’s exchange rate, not Pakistani inflation, is what affects their value to you.

How do I invest in PSX through a Roshan Digital Account?

Through a Roshan Equity Investment (REI) account. The PSX describes the steps:

Through REI you can buy shares, bonds, exchange-traded funds and government securities traded on PSX, conventional or Shariah-compliant. CDC (Central Depository Company) pays the broker’s commission and NCCPL clearing charges from your cash. Dividends are credited with CDC. For how the market itself works, see how to invest in PSX.

FBR’s rate card for 2026-27 taxes most dividends at 15% for filers. We couldn’t confirm from FBR how capital gains on shares are taxed for non-resident RDA holders, so ask your broker before selling.

Can I buy property through a Roshan Digital Account?

Yes, on a repatriable basis, using money sent from abroad. Bank AL Habib’s terms set out the rules:

• Minimum holding: three years. After that you can send back the full sale proceeds.
• Selling earlier: you can send back the lower of the sale price or your original rupee investment. The rest waits until three years from the investment.
• Instalments: the three years count from your last payment.
• The bank pays the seller directly and needs two independent valuations from Pakistan Banks Association-listed valuers, except when you buy directly from a developer in a new scheme.
• You must give the bank the title document within six months of the final payment.
• Rent can be paid from the tenant’s account into your RDA.

The property can be in your name or jointly with close family. Banks also lend to RDA holders: HBL’s Roshan Apna Ghar finances Rs 5 lakh to Rs 10 crore for 3 to 25 years. Before buying, check the society’s approval status in our property guides.

Can I take my money back out?

RDA balances are fully repatriable, HBL says. The account is funded only by remittances from abroad. Local deposits aren’t allowed, except proceeds of investments made from the account. The main limit is property’s three-year rule.

Which option suits whom?

Each line follows from the rules above:

• You want a fixed rupee return and no tax filing: rupee NPCs, 11.75% to 12.75%, 10% final tax.
• You want to keep your money in dollars: USD NPCs, 6.75% to 7.75%.
• You want Shariah-compliant returns: Islamic NPCs or Shariah-compliant shares and funds; the return is not fixed.
• You accept price swings for possible growth: PSX shares through REI, or the bank’s equity funds. See mutual funds in Pakistan.
• You plan to hold property at least three years: RDA property purchase with full repatriation after three years.

More guides: Investment options in Pakistan compared, National Savings certificates, PSX account opening, Investing.