Monday, June 17, 2024

$400 Million Sent by Overseas Pakistanis through Roshan Digital Accounts

State Bank of Pakistan has informed that the inflows of foreign exchange through RDAs- Roshan Digital Accounts have recently reached to $400 million just within a period of four months.

Roshan Digital Accounts was an initiative of SBP as its objective is to attract the investments by the Pakistanis who are living abroad as by offering them much higher returns just on their deposits compared to returns in the already developed countries.

These accounts were launched to enable the Non-Resident Pakistanis as to remotely open their bank accounts in their country Pakistan as through online digital portals that is very convenient and without any physically visit to any of the branch.

State Bank of Pakistan has also stated that till now 80,000+ RDAs have been opened, like without any detailing regarding the country or specific region that has contributed as most to this number.

As per the reports the highest amount of these accounts has come up from Gulf countries that is approximately 65% of total remittances of Pakistan comes from it.

Mehjabeen Qasim
Mehjabeen Qasim
Business Journalist at Startup Pakistan

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