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Many expats struggle to transfer money from Pakistan to Saudi Arabia as banks in Pakistan do not allow such transfers. There are two ways to transfer funds from Pakistan;
- Roshan Digital Accounts (RDA).
- Local Bank accounts.
Transfer money from RDA accounts
In case you have a Roshan Digital Account (RDA) back in Pakistan, you can repatriate funds to Saudi Arabia without any trouble if the following conditions are met;
- The funds are still available in the RDA account.
- You are repatriating it to your personal bank account internationally.
How to transfer?
Now you would be thinking about how to transfer funds from your RDA account to an international bank account; we have explained the process using Meezan Bank Internet Banking.
- Log in to your Meezan Bank account.
- Click on “Remittance Application.”
- Select the bank account to transfer funds.
- Select “Repatriation of Funds. option”
- Scroll down and enter all the required details.
You need to add the following details of your bank account in Saudi Arabia to transfer funds from Pakistan successfully;
- Beneficiary Name: Account name in Saudi Arabia.
- Beneficiary Address: Address as per your registered National Address.
- Beneficiary Mobile: Your Saudi Mobile Number.
- CNIC: CNIC number issued by Pakistan.
- Beneficiary A/C number: Saudi Bank account number.
- Beneficiary IBAN: Saudi IBAN number.
- Beneficiary Bank Name.
- Beneficiary Bank Swift Code: List of Swift Codes in KSA.
- Relationship with Remitter: Myself.
I transferred funds from Pakistan to my SNB bank account, which was remitted within the same day. I heard from someone that it takes two days from HBL to Bank Al Bilad.
Transfer money from Local accounts
If you have a local bank account (not RDA), Banks need to know why you want to transfer your funds from Pakistan to Saudi Arabia. There could be several reasons;
Banks in Pakistan generally allow people to pay for the university fee of children studying in Saudi Arabia through their bank account. The fee will be directly paid from your bank account in Pakistan to the university bank account in Saudi Arabia.
In case of medical reasons, you need to get approval from the bank head office after providing documentation which needs to be attested by the Pakistan Embassy in Saudi Arabia.
Even after getting the approval, the banks may ask you to deposit dollars in your account to repatriate to Saudi Arabia.
It is almost near impossible to transfer money from Pakistan to Saudi Arabia for investment purposes for an individual as you cannot get Saudi Nationality.
However, if you are a national of another country, you can transfer up to $30,000 annually from Pakistan for investment purposes. The banks may ask you to deposit dollars in your account to repatriate to Saudi Arabia.