The government has launched the “Roshan Apni Car” scheme for overseas Pakistanis holding Roshan Digital Accounts, allowing them to purchase vehicles in Pakistan for their families under simplified and fully digital financing arrangements.

The initiative has been introduced by the State Bank of Pakistan in collaboration with multiple commercial banks to facilitate the diaspora community. Under the scheme, overseas Pakistanis can apply online through their respective bank portals without any physical paperwork.

Officials said the entire loan process has been digitised to make it faster and more transparent. Once an application is submitted, loan approval can be completed within just four days. Vehicle delivery time has also been reduced by up to 50 percent compared to traditional procedures.

The scheme is designed to strengthen financial inclusion and encourage remittance flows through formal banking channels. Applicants can choose between fixed-rate and floating-rate financing options depending on their preference.

Under floating-rate financing, interest rates may change over time. If funds from a Roshan Digital Account or Naya Pakistan Certificates are used as collateral, financing will be available at the State Bank’s floor rate plus a 1 percent margin. In non-collateral financing, borrowers will be charged KIBOR plus 1 percent for six-month terms.

In fixed-rate financing, the interest rate remains unchanged throughout the loan period, with banks determining the rate based on costs and revaluation benchmarks.

Officials say the scheme will not only help overseas Pakistanis provide vehicles for their families but also strengthen confidence in Pakistan’s banking system and increase remittance inflows through formal channels.