fbpx
Menu

Roshan Digital Account – FAQ’s

Home / Roshan Digital Account – FAQ’s

Digital Account Opening by Overseas Pakistanis

Q: What is the eligibility criteria?

A: Following Single individuals are eligible to open account:

  • Individual Non-resident Pakistani Nationals (NRPs) having CNIC/ SNIC/ NICOP;
  • Foreigners having Pakistan Origin Card (POC);
  • Members of Overseas Pakistanis Foundation (OPF); and/or
  • Employees or officials of the Federal Government or a Provincial Government posted abroad that are eligible to open foreign currency account and NRAR as per existing regulations may either individually or jointly purchase the Bill:

Q: With regards to account opening, what are the minimum documents required for online submission on portal?

  • Original scanned CNIC/ NICOP/ POC
  • Original scanned Passport (first 2 pages) (Pakistani and/or foreign/ other country)
  • Proof of NRP status (e.g. scanned copy of POC, visa, entry/ exit stamps, etc.)
  • Proof of Profession and Source of Income/ Funds (e.g. scanned copy of job certificate, tax return, rent agreement, salary slips, etc.)
  • Photo of customer
  • Signature (Electronic)
  • FATCA/CRS Declaration

Q: Are these accounts Islamic?

A: Yes, these accounts are fully Shariah compliant duly approved by bank’s Shariah Board.

Q: What type of accounts I can open?

A: Current Accounts and Savings Accounts.

Q: In how many currencies I can open an account?

A: Currently you can open an account in USD and PKR only.

Q: Is there any minimum amount required to open an account?

A: No.

Q: Which Account I can open?

A: You can chose account based on your need and considering product features of our six accounts which we offer in current and savings categories.

  1. Faysal Islami Savings Account PKR
  2. Faysal Islami Savings Account USD
  3. Faysal Islami Current Account PKR
  4. Faysal Islami Current Account USD
  5. Faysal Islami Rehmat Account PKR
  6. Faysal Islami Rehmat Account USD

Q: What are the key features Faysal Islami Savings Account PKR?

  • Available in PKR currency
  • Digital Account Opening: Account will be opened digitally
  • Simplified KYC process
  • Islamic Savings Account opened on the basis of Mudarabah contract
  • Halal returns on balance maintained in account
  • Debit Virtual Card: for online payments
  • Debit Card for purchases/ cash withdrawal: to be issued only on request of customer (not mandatory features)
  • Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions will be allowed), bill payments in Pakistan and Mobile top-ups
  • Account can only be credited by foreign inward remittances originating from the account holder himself/ herself through formal channels (banks or money transfer companies)
  • Repatriation of funds: Customers can withdraw their funds through transfer into any of his/her account internationally

Q: What are the key features Faysal Islami Savings Account USD?

  • Available in USD currency
  • Digital Account Opening: Account will be opened digitally
  • Simplified KYC process
  • Islamic Savings Account opened on the basis of Mudarabah contract
  • Halal returns on balance maintained in account
  • Debit Virtual Card: for online payments
  • Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions will be allowed)
  • Account can only be credited by foreign inward remittances originating from the account holder himself/ herself through formal channels (banks or money transfer companies)
  • Repatriation of funds: Customers can withdraw their funds through transfer into any of his/her account internationally

Q: What are the key features Faysal Islami Current Account PKR?

  • Available in PKR currency
  • Digital Account Opening: Account will be opened digitally
  • Simplified KYC process
  • Account will be based on Qarz contract
  • Debit Virtual Card: for online payments
  • Debit Card for purchases/ cash withdrawal in Pakistan: to be issued only on request of customer (not mandatory features)
  • Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions will be allowed), bill payments in Pakistan and Mobile top-ups
  • Account can only be credited by foreign inward remittances originating from the account holder himself/ herself through formal channels (banks or money transfer companies)
  • Repatriation of funds: Customers can withdraw their funds through transfer into any of his/her account internationally

Q: What are the key features Faysal Islami Current Account USD?

  • Available in USD currency
  • Digital Account Opening: Account will be opened digitally
  • Simplified KYC process
  • Account will be based on Qarz contract
  • Debit Virtual Card: for online payments
  • Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions will be allowed)
  • Account can only be credited by foreign inward remittances originating from the account holder himself/ herself through formal channels (banks or money transfer companies)
  • Repatriation of funds: Customers can withdraw their funds through transfer into any of his/her account internationally

Q: What are the key features Faysal Islami Rehmat Account PKR?

  • Available in PKR currency
  • Digital Account Opening: Account will be opened digitally
  • Simplified KYC process
  • Account offered under Current Remunerative category based on Modarabah contract
  • Halal returns on funds deposits
  • Debit Virtual Card: for online payments
  • Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions will be allowed)
  • Account can only be credited by foreign inward remittances originating from the account holder himself/ herself through formal channels (banks or money transfer companies)
  • Repatriation of funds: Customers can withdraw their funds through transfer into any of his/her account internationally
  • Charity payment by FBL to partner charitable institutions without any deductions in customer’s account upon maintenance of Rs. 500,000/- quarterly average balance.
  • Various Free services:
    • Inter-bank Funds Transfer
    • Pay Orders issuance
    • Debit Card issuance (only first time)
    • e-Statement

Q: What are the key features Faysal Islami Rehmat Account USD?

  • Available in USD currency
  • Digital Account Opening: Account will be opened digitally
  • Simplified KYC process
  • Account offered under Current Remunerative category based on Modarabah contract
  • Halal returns on funds deposits
  • Debit Virtual Card: for online payments
  • Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions will be allowed)
  • Account can only be credited by foreign inward remittances originating from the account holder himself/ herself through formal channels (banks or money transfer companies)
  • Repatriation of funds: Customers can withdraw their funds through transfer into any of his/her account internationally
  • Charity payment by FBL to partner charitable institutions without any deductions in customer’s account upon maintenance of USD 3,000/- quarterly average balance.
  • Various Free services:
    • Inter-bank Funds Transfer
    • e-Statement

Q: Charity amount will be deducted from my account?

A: No. The charity payment will be made by FBL without any deductions from your account on quarterly basis. You will opt a charity institution of their own choice from our partners Indus Hospital and Shaukat Khanum Memorial Trust.

The charity will be calculated on quarterly basis upon maintaining quarterly average balance of PKR 500,000 in account. The charity rate of 0.5% (per annum) will be applied for charity calculation for Faysal Islami Rehmat Individual Digital Account PKR. The charity for Faysal Islami Rehmat Individual Digital Account USD will be 0.01% (per annum) calculated on quarterly basis upon maintaining quarterly average balance of USD 3000/- in account.

Q: Opening an account is fully digital for customer or there would be some documents to be dispatch later on?

A: Yes, it is complete seamless digital journey for the customers. All required documents would require to be uploaded in soft version.

Q: Can resident of Pakistan transfer funds into this account?

A: No. Customer account can only be Fed by foreign inward remittance originating from the account holder himself/herself through formal channel (banks or money transfer companies).

Q: When funds can be deposited in account by customer?

A: Upon satisfactory completion of the requirements, the account will be opened and Faysal Bank will send welcome pack (through email) to the customer and request the customer to deposit funds and make the investment.

Q: How KYC will be done by the Bank?

A: Relationship Manager will contact customer over email and / or telephone call and KYC will also be done over video calling.

Q: What is the turnaround time (TAT) for account opening?

A: The account will be opened within 48 hours.

Q: Can funds in these accounts are Reparable?

A: Yes. Customers can take back their funds into their country from both PKR NRAR Account and FCY Account.

Q: Are there any taxes on Remittance?

A: No, there are no taxes on Remittance. However, WHT will be levied, where applicable, as per the regulatory requirement.

Q: What investment opportunities do I have through these accounts digitally?

A: You can invest in Barkat Investment Certificate of FBL and GOP Islamic instruments – Sukuk.

Q: What are the key features of Barkat Investment Certificate ‘BIC’?

  • BIC will be available in PKR and USD currency
  • Flexible tenure options ranging from 1 Month, 3 Month, 6 Months and 1 Year
  • Profit Payment Frequency of Monthly, Quarterly, Semi-Annually and Maturity will be available
  • Minimum investment of PKR. 25,000 is required for PKR BIC and USD 1000 for FCY BIC
  • Lucrative Halal profit returns
  • All taxes and Zakat will be applicable as per regulations. All regulatory conditions will be levied as defined in relevant government regulations.
phone

Call Us or Text Us

Our hotline is available 24X7

Tel: 111-06-06-06

Text 9181

map Karachi

Nearest ATM & Branch

ATM - Engro Polymer & Chemicals Ltd. Plant Site EZ/I/P-II-I Eastern Zone, Bin Qasim

Branch - Engro Polymer & Chemicals Ltd. Plant Site EZ/I/P-II-I Eastern Zone, Bin Qasim