Karachi August 15 2022: State Bank of Pakistan advised banks to complete the development of their Mobile Applications incorporating the following minimum features including live currency rates pertaining to the Roshan Digital Account (RDA) within 3 months from today i.e. November 15, 2022.
The application must contain following bare minimum features.
• Full-fledged account opening facility for all types of RDA accounts and customer segments that the bank is offering
• Investment in NPCs (both conventional & Islamic)
• Requests for Redemption/encashment of NPCs
• Requests for repatriation of funds from RDA
• Fund transfer services including interbank fund transfers via Raast and other platforms
• Bill Payment services including utility and 1Bill payments
• Online application/request and related processes for various RDA products including Roshan Apni Car and Roshan Apna Ghar showing updated status of the application
• Online access to Roshan Samaaji Khidmat services
• Option to Invest in Roshan Equity and Bank’s own products, if available and offered
• Online option of currency conversion transaction, with live visibility of exchange rate
• Online request for Cheque Books, debit cards, credit cards (if offered) etc.
• Request for account statement, withholding tax certificate, account maintenance certificate, etc.
• Instant confirmation of transactional activity
• Complaint lodging and its resolution status
• Live chat option and any other option that would facilitate RDA customers
In addition, option for investments in Mutual Funds, Insurance, Government Securities such as T-Bills, PIBs, etc. shall also be offered to customers, when available.
In case the banks are offering services that redirects the banks’ customers to a third-party interface, then the banks shall mandatorily conduct third-party security assessments of the mobile apps and the channels providing connectivity to these third-party interfaces.
Banks shall ensure compliance with all other relevant SBP’s instructions on mobile applications’ operations and security, etc. issued from time to time.
