Foreign exchange inflows through the Roshan Digital Accounts (RDAs) were recorded at a total of $6.1 billion by the end of April 2023, according to the State Bank of Pakistan (SBP).

According to official data released by the central bank, the deposits under the RDAs registered inflows of $136 million in April, down $19 million from the inflows of $155 million recorded in March. The jump signifies a decrease of 12 percent in inflows on a MoM basis.

According to the official numbers, 561,617 RDAs have been opened since they were launched, representing a 2.2 percent increase on a monthly basis.

The total investments made through the RDA inflows totaled $3.865 billion from September 2020 to April 2023. So far, conventional Naya Pakistan Certificates (NPCs) have received $1,921 million, whereas Islamic NPCs collected $1,894 million. Meanwhile, the RDAs deposited $50 million in the Pakistan Stock Exchange.

Roshan Digital Account is a major initiative of SBP, in collaboration with commercial banks operating in Pakistan. These accounts provide innovative banking solutions for millions of Non Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment and investment activities in Pakistan.

Source: Pro Pakistani