Who it is for
The SBP says the product is for Non-Resident Pakistanis (NRPs) and Pakistan Origin Card holders. NRPs can be added as co-borrowers, and joint ownership with a resident Pakistani is covered.
What it can finance
Buying a property, or building or renovating a house in Pakistan. As described by the SBP, lien-based financing can cover up to 99% of value for purchase or construction and up to 40% for renovation; non-lien financing up to 85% for purchase or construction and up to 30% for renovation. Tenors run from 3 to 25 years, in conventional or Shariah-compliant form.
How it relates to a Roshan Digital Account
The SBP states that investors can buy property directly from their Roshan Digital Account using their own funds, that lien-based financing is secured against RDA deposits or Naya Pakistan Certificates, and that RDA-funded investments in Pakistan are repatriable and subject to full and final taxation. Ask your bank what that means for you.
Conditions to know about
- Lien-based loans need no mortgage on the property, and the borrower can sign digitally.
- Non-lien loans require a mortgage on the property, which needs physical presence or a special power of attorney.
- Buyers must nominate a person in Pakistan to complete sale or transfer formalities.
- The SBP says pre-approved projects get faster processing.
Questions to ask the bank
- Is the project I am considering on your list of approved projects, and what do you need to check about it?
- Which documents do you need from me and from the seller?
- What profit rate and charges apply now, and what are the repayment terms?
- How is the loan secured, and what happens if I repay early?
Read the SBP's own page for the current scheme and the banks that offer it.
This article is general information, not legal, tax or financial advice. Prices, rules and fees change, so confirm current figures with the developer and have a lawyer review your documents before you pay.