Roshan Apna Ghar benefits both Overseas Pakistanis & Local Real Estate

by M. Wasim

Real estate has always been a preferred and highly sought-after venue for overseas Pakistanis for investment. And, with the launching of Roshan Apna Ghar Scheme, not only the sector will attain boost and credibility but also the Pakistani expats will get a sense of surety of their money as well as pride to contribute in the development of the country.

An initiative of State Bank of Pakistan, at external front the Roshan Apna Ghar is an eye-catching scheme for non-resident Pakistanis to buy, build or renovate their homes in Pakistan through their own investment or bank financing.  While at internal canvas it is a venture to find overseas to fill the dollar deficit due to imbalance of payments, which can be overcome by attracting investment from overseas Pakistanis.

Roshan Digital Account Success

Roshan Digital Account scheme has been a prominent success of federal government which provides innovative banking solutions for millions of non-resident Pakistanis seeking to undertake banking, payment and investment activities in Pakistan. Under the initiative, several financial products have been provided to the overseas Pakistanis including Naya Pakistan Certificates for investment, Roshan Apni Car for car financing and Roshan Samaaji Khidmat for donation to charities.

Now Roshan Digital Account Scheme is an established brand, which has so far connected over 215,000 expats with country’ banking system and attracted over $2,050 million since its launch in September 2020. The Roshan Apna Ghar is a program on the same pattern, where expatriates can now buy or finance a house from bank’ pre-approved projects or any property.

Edge of Roshan Apna Ghar

The Prime Minister Imran Khan has expressed optimism that Roshan Apna Ghar would facilitate overseas Pakistanis to buy a house for themselves or for their families in Pakistan, which has been quite difficult for many of them due to a host of manual procedures, mandatory physical visits to Pakistan with long stay to complete the process and the hassle of trips to many offices. Besides the scheme will give them security of their assets and properties from illegal grabbing and encroachments.

Through the Roshan Apna Ghar initiative, overseas Pakistanis will also be able to obtain financing under the Mera Pakistan Mera Ghar scheme of the government as well. It has been exclusively designed for those who do not already own a house and offers financing at economical rates starting from 3%.

A Step towards Digitalization

Referring digitalization of the scheme, the State Bank Governor Reza Baqir said all impediments that overseas Pakistanis previously faced in housing investment have been removed through effective utilization of digital technology. He elaborated that financing is available in both conventional and Shariah-compliant variants at attractive rates for a period of three to 25 years.

With the introduction of Roshan Apna Ghar, an end-to-end digital process right from submission of application to the bank to disbursement of funds by banks will be held. And, overseas Pakistanis would find it much easier to buy a housing unit in Pakistan for themselves or their loved ones either through their own savings or bank financing. Besides, they will be able to complete their transaction full remotely and digitally and their investment will be fully secured. 


Editorial, Infocus

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