Roshan Equity Investment

Pakistanis can now invest in Pakistan Stock Exchange (PSX) through their Roshan Digital Account. This is an ideal opportunity for non-resident Pakistanis to invest in Pakistan’s capital market and benefit from the competitive returns on offer by PSX while participating in the growth of their native homeland’s economy. Overseas Pakistanis can choose from a wide array of companies listed on the Exchange in several different sectors, build their investment portfolio and reap the potential rewards of investing in PSX.

Account Opening Process

  • Select your brokerage firm (Provide list of available brokers as given below through clickable website link to explore)
  • Accept the Terms and conditions mentioned. (This will enable the bank to share your information with the selected broker and capital market entities to open your Roshan Equity Investment account & CDC depository account).
  • Add funds into your Roshan Equity Investment account. (This will transfer funds from your RDA Bank Account into your Roshan Equity Investment account and enable you to invest i.e. buy and sell stocks).

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Contact Us:

  • Contact Person

    Javeria Talha Farooqui

  • WhatsApp Number

    +92 321 2105 513, +92 321 2833 100

  • Direct Number

    +92 21 3828 0252, +92 21 3246 0048

  • Email Address

Account Opening / Sales Team

  • Direct No

    +92 21 38280282, +92 21 38280285, +92 21 38280255, +92 21 38280291

  • UAN and Extension

    +92 (21) 111-245-111 Ext. 266, 319

  • Email Address

  • Ms. Isra Zulfiqar

    Officer Sales & Marketing

  • Mr. Hamza Mohsin

    Officer Sales & Marketing

  • Mr. Rameez Hussain

    Officer Sales & Marketing

Frequently Asked Questions (FAQs)

  1. What is Roshan Digital Account?
    Roshan Digital Account provides an opportunity for Non-Resident / Overseas Pakistanis to remotely open a bank account with SBP designated Pakistani banks through an entirely digital and online process. This account will enable them to avail banking services like funds transfer, remittances, bills & fee payments, and invest in various instruments including stocks / shares
  2. What is SBP and what role does it play in Roshan Digital Account?
    State Bank of Pakistan (SBP) is the central bank of the country. SBP has introduced the concept of Roshan Digital Account for Non-Resident Pakistanis, enabling them to avail banking services like payments and remittances and invest money in a variety of instruments including shares/stocks. For more information, please visit
  3. What is SECP?
    Securities and Exchange Commission of Pakistan (SECP) is the apex regulator of Pakistan Capital Market. To learn more about SECP, please visit
  4. What is CDC and what role does it play in Roshan Digital Account?
    Central Depository Company (CDC) is the sole shares depository and the custodian of investor assets in the Pakistan Stock Market. CDC is the only entity handling the electronic (paperless) settlement of shares transactions carried out at the Pakistan Stock Exchange. CDC serves as the information hub between banks and stock market for Roshan Digital Account holders. For those who are interested to invest in stock market through RDA, CDC will open a Custody Account for them.
  5. What is PSX and what role does it play in Roshan Digital Account?
    Pakistan Stock Exchange Limited (PSX) is the country’s only stock exchange where trading of shares takes place. It is a marketplace where investors can buy and sell shares of listed companies and other securities through securities brokers, also called Trading Right Entitlement Certificate (TREC) holders. PSX has been rated among the world’s best performing stock market for the past many years. To learn about PSX, please visit
  6. What is NCCPL and what role does it play in Roshan Digital Account?
    National Clearing Company of Pakistan Limited (NCCPL) is the clearing and settlement provider of the Pakistan Stock Market. It will generate your Unique Identification Number (UIN). For more details, please visit
  7. What is a Roshan Equity Investment account and what is its purpose?
    A Roshan Equity Investment account is opened on behalf of the investor with a securities broker and is used for trading in shares.
  8. Who is eligible to open this account?
    Only the following can open Roshan Digital Account:
    • A Non-Resident Individual Pakistani (NRIP)
    • A Non-Resident POC Card holder
    • Employees or officials of the Federal or Provincial Governments posted abroad in the tax year
  9. Which documents are required to open Roshan Digital Account?
    Scanned copies of at least the following documents are required to open Roshan Digital Account:
    • CNIC / NICOP / POC
    • Passport (Pakistani and/or foreign country)
    • Proof of Non-Resident status
    • Proof of Profession and Source of Income/Funds
    • For salaried individuals: Job Certificate / Salary Slips
    • For business persons: Tax Return / Rent Agreement / any other Proof of Income
    • Live Photo/Digital Photo
  10. Which banks are currently offering Roshan Equity Investment accounts for Roshan Digital Account Holders?
    To view the list of banks that are offering the option to invest in Pakistan Capital Market through Roshan Digital Account, please click on the following link:
  11. Which brokers are currently offering Roshan Equity Investment accounts for Roshan Digital Account Holders?
    To view the list of brokers that are integrated with CDC and offering Roshan Digital Account, please click on the following link:
  12. How can I start investing in Pakistan Stock Market if I have a Roshan Digital Account?
    First, you have to select “Roshan Equity Investment” on your bank’s portal / website / app. With the following three further steps, you can start investing in Pakistan Stock Market through Roshan Digital Account:

    Click on the ‘Consent’ tab to share Roshan Digital Account details with Central Depository Company (CDC) and other capital market entities.
    Click ‘I Agree’ to Terms and Conditions for Investing in Pakistan Capital Market and Selection of the Broker.
  13. What happens after I provide the above?
    You will receive an ‘Acknowledgement Email’ from CDC as soon the consent and information from your bank is received. In 24 hours of receiving the acknowledgement mail from CDC and if the Information/ credentials were found complete and correct, you will receive an Account Opening Package email from CDC, comprising of the following actions and details:

    • Opening of your Roshan Equity Investment account with your selected broker.
    • Creation and Registration of your Unique Identification Number (UIN).
    • Opening of your Custody Account (CDC Account).
    • Activation of Direct Settlement Service (DSS) in your Investor Account (if you have opted for the same).
    • Creation of your CDC Web Access Login ID and Password.

    In case you do not receive an Account Opening Package email from CDC, you will receive either of the two responses from CDC:
    • Discrepancy found in your provided information / documents, asking you to provide the same in correct form or provision of some additional information.
    • “No Response”
      status from your selected broker, seeking your advice on further action.

    Account opening and trading eligibility is dependent on activities of NCCPL and the selected broker, due to which, certain delays maybe experienced in the overall processing. In case you do not receive any of the above responses from CDC, you can email us at or call us at + (9221) 38623275 to inquire about the status of your account opening.
    RDA equity investment account will be opened within 24 working hours with Arif Habib Limited provided all the information is correct and there is no discrepancy attached to it.
  14. Once the account is operational, how can I transfer funds?
    You may transfer funds to your CDC account opened through RDA by logging into the web portal of your selected bank and transfer the desired amount to the designated bank account of CDC through the provided CDC Funds Transfer option in your bank account portal.
  15. How much amount do I need to transfer initially?
    Minimum funds transfer of PKR10,000 is required so that PKR 5000 is shown in your trading portal and the remaining amount is kept as security deposit by CDC on initial funds transfer.
  16. Why is Rs. 5,000 held and not being shown against my initial deposit?
    Rs. 5,000 is held from your initial deposit in lieu of recurring charges related to your account, which include but are not limited to the following:
    • Custody Charges
    • Transaction Fee
    • Transaction Fee
    • Annual Charges

    details on charges refer

    “Schedule of Fees for IAS”



  17. Is the security deposit amount refundable by CDC?
    Yes, the amount kept as security deposit by CDC is refundable when you decide to close your Roshan Equity Investment Account.
  18. How long does it take to get the amount credited into my CDC IAS account and is available to purchase shares through my shares trading account?
    As soon as the transaction is made through RDA bank account, it takes two working hours for funds to be credited into your CDC Investor account and the same also gets reflected into your shares trading account. After the amount is reflected into your trading account, you may proceed with execution of your orders.
  19. How can I withdraw funds through my Roshan Equity Investment Account?
    You may only transfer funds from the very same RDA bank account through which you have opened your shares CDC Investor account.
  20. Can I withdraw funds immediately after liquidation of my shares?
    If you have bought GEM shares your respective broker will send you a self-declaration form which will then give you single time approval for sale transaction of your GEM shares.
  21. Why does my Average Buy Rate keep on changing on trading portal every day?
    At T+2 (2 business days after transaction), CDC will transfer the shares out of your CDC Account and will receive cash on your behalf, which will be readily available for any further transactions.
  22. What is a difference between Shariah and Non Shariah RDA Account?
    With Shariah Compliant Trading the person is allowed to only trade in all KMI index. Similarly, day trading facility is not available in Shariah Compliant Trading. Also, trading of Right shares is restricted in Shariah Account.
  23. After buying shares how long do I have to wait to sell shares?
    If you have RDA conventional account, you can sell shares on the same day on which purchases were made. However, for Shariah account holders sale of shares is only allowed on shares settlement date.
  24. How will I know if the shares are bought?
    Your shares will be reflected in your Arif Habib Limited trading portal as soon as the shares are traded. You will also receive a trade memo of confirmation via email at the end of the market by Arif Habib Limited.
  25. Are there any deductions on order rejection or cancellation?
    There are no deductions on order rejection or cancellation.
  26. Will the order appear next day when the market opens if not executed on the same day?
    All of the outstanding orders are cancelled automatically from the market if not executed on the very same day.
  27. How can I change my account status from Shariah to Non-Shariah?
    In order to change your account status from shariah to non shariah you need to close your account through CDC and open another account through conventional bank account repeat the whole process which you initially did for opening of RDA account and then your conventional RDA account will be opened.
  28. Can I transfer my securities from my RDA Shariah Account to my RDA Conventional Account?
    : Before closure of your RDA Shariah Account, you need to settle all of your trades. Transfer of securities and funds is not allowed from one RDA account to another.
  29. Can I transfer securities from my other IAS / sub-account to my RDA account?
    No, transfer of securities is not allowed from another IAS or Sub-Account to RDA Account opened with CDC.
  30. Can I transfer my Physical Shares into my RDA Equity Investment Account?
    No, you cannot transfer your physical shares into your Roshan Digital Equity Investment Account.
  31. Can I get securities from any other account through gift deed in my RDA based CDS Account?
    No, gift transactions are not allowed in RDA account opened with CDC.
  32. I am unable to view my portfolio aftermarket hours. What is the reason behind this?
    For each equity trade, settlement of shares is done solely by CDC, therefore all the purchased securities are credited in CDC Investor Account. In this regard, all the purchase entries are forwarded to CDC at the end of the day and no portfolio lies with AHL.
  33. How can I get my statements?
    With regards to your statements, brokerage house can provide you with your account statement and periodic trade detail, which will give you the details regarding the trades placed by you.
  34. Can I have multiple RDA account with multiple brokerage house or Can I open another RDA account with the same brokerage house?
    Overseas Pakistani’s cannot operate multiple RDA and also one RDA can maintain one broker for Roshan Equity Investment Account.
  35. How can I get trader assigned to my account?
    You just need to send an email to Arif Habib Limited and the trader will be assigned to your account.
  36. Do I need to maintain certain balance for trader facility?
    For RDA account holders there is no such restriction to maintain any cash balance in their account.
  37. If my funds and securities are maintained by CDC, then what’s the use of broker?
    Arif Habib Limited provides you with trading platform in order for you to trade in PSX. Without this facility, you are unable to trade in stocks.
  38. What are your commission charges? Are there any hidden charges associated with my account?
    Arif Habib Limited charges minimum commission as notified by PSX. The charges of taxes and commission will be shared with you once you open your trading account with us. All the charges are communicated with the client as soon as the account is opened and there are no hidden charges associated with the account of the shareholder. Also, CDC will pay your broker’s commission from the cash transferred by you from your Roshan Digital Account to CDC bank account.
  39. What are NCCPL’s charges and how do I pay them?
    NCCPL charges are applicable on the clearing of trades and will be deducted by CDC, details which will be provided to you. For schedule of NCCPL’s fee and charges, please refer to
  40. What is the applicable CGT rate and how it is processed?
    As per current tax laws, the Capital Gain Tax (CGT) is 15%. The Capital Gain Amount of 15% on the gain is withheld until National Clearing Company of Pakistan Limited (NCCPL) updates the exact CGT amount of client. Excess amount kept on hold is released on the basis of CGT computation provided by NCCPL.
  41. What are right shares? Can I trade in right shares?
    Right shares are issued by the company in case they require capital for acquiring some plant or machinery, working capital needs, etc. These shares are automatically credited to the shareholder’s account if the shareholder has bought company’s shares before the ex-date of these shares. There is a specific time attached to these letter of right (LOR) shares in which you can trade it, otherwise you may also subscribe it. RDA conventional account holders can also trade in these LOR.
  42. Can I trade in future?
    RDA account holders cannot trade in future market.
  43. How will I receive dividends on my purchased shares?
    Dividends are credited into shareholder’s Roshan Digital Account directly by the company. Arif Habib Limited is not responsible for shareholder’s dividends also Arif Habib Limited cannot check the status of your dividends.
  44. How will I get my Bonus shares?
    Your bonus shares will be reflected in your CDC Account directly by the company as soon as it is credited into your account.
  45. Can I trade in GEM Shares?
    In order to trade in GEM shares the shareholder should have PKR 7 million worth of securities available in their respective CDC account.
  46. I already have GEM shares and I don’t have PKR 7 million worth of net assets declared. How can I sell these shares?
    If you have bought GEM shares Arif Habib Limited will provide you a self-declaration form which will then give you a single time approval for sale transaction of your GEM shares.
  47. Can I have a Nominee Attached to my RDA Account? If yes, who can I keep as nominee?
    Yes, you can nominate next of kin by providing the request from your registered email address, along with the valid copy of CNIC/NICOP specifying the relation. You can keep only your immediate blood relations as nominee which includes your Brother, Sister, Spouse, Mother, Father, Son and Daughter.
  48. Can I participate in book building, IPOs?
    Yes you can participate in any IPO or Book Building through your CDC IAS account opened through RDA but there are certain procedures and stipulated dates for each case, which needs to be followed. You may view all such relevant details at or you can reach out to us at XXXXXXX with any specific questions
  49. Can I trade in Commodities and Other Currencies?
    RDA account holders cannot trade in Commodities and Other Currencies.
  50. How can I check my status of Filer and Non Filer?
    You can check your status of filer or non-filer by visiting FBR website, if you are appearing in active tax payer list, your income tax will be deducted accordingly.
  51. How can I access CDC Web Access Facility?
    CDC web access facility is provided for the shareholders to view their sub account holdings/dividend details etc, to access this facility the shareholder may click on the link
  52. What is UIN and its purpose?
    In order to authenticate each trade and transaction executed in the stock market, NCCPL registers investors by assigning a Unique Identification Number (UIN). Registered UINs are provided to the stock exchange by NCCPL and it is mandatory for brokers to enter UIN while trading.
  53. What is a Custody Account and what is its purpose?
    A Custody Account is a shares custody account opened with CDC
  54. What is DSS and what role does it play in Roshan Digital Account?
    Direct Settlement Service (DSS) is a web-based service through which IAS Account Holders can settle their trades executed at Stock Exchange directly through their respective IAS Account. Investors have to contact the broker only for the execution of trades. Further details about Direct Settlement Service are available on the following link:
  55. How can I make changes to my account (change of email address, contact number, IBAN details etc)?
    In order to make changes in your account, you need to contact CDC, as soon as CDC makes the desired changes to your account; you will forward the same email to Arif Habib Limited so that the same is done in our records as well.
  56. Can I change the broker?
    Yes, you can change your broker through CDC Web Access, you may click on the link for further assistance in the matter.
  57. In case I return to Pakistan on permanent basis, what would be the status of my CDC Investor Account opened through RDA?
    Since returning to Pakistan will result in change of your Residential Status from Non-Residential to Residential, you would be required to open a new CDS account CDC-IAS or Broker on the basis of your CNIC.

    Subsequently, you will have to submit a written request (in original) to CDC for transfer of securities from your Roshan Digital CDC account to newly opened CDS account duly signed as per CNIC along with the copy of CNIC and cancellation of NICOP/POC. Lastly, proof of cancellation of employment/visa will be required.
  58. How can I close my CDC Account?
    For closing an account, you need to send account closing request from your registered e-mail address mentioning your CDC Account Number to Before sending the account closure request, you would need to ensure that all the securities in the account are disposed-off prior to initiating account closure request, and there are no pending corporate actions in the account.
Source: PSX