Number of RDAs crosses 0.7 million

Islamabad: According to the State Bank of Pakistan (SBP), the number of Roshan Digital Accounts (RDAs) has crossed 0.7 million.

According to the State Bank, 10,168 Roshan digital accounts were opened in June 2024, and 1,26,893 RDAs were opened in Fiscal Year 2024, after which the number was 7,12,778.

The SBP officials stated that $200 million was deposited in RDAs in June and $2 billion in fiscal year 2024. While a total of $8.25 billion was deposited in Roshan digital accounts from September 2020 to June 2024.

$5.21 million deposited in Roshan Digital Accounts was used locally, $1.61 billion was withdrawn from the accounts, while the outstanding deposits in RDAs as of June 2024 are $1.43 billion, stated the central bank.

It is pertinent to note that under the Roshan Digital Account, overseas Pakistanis can open their account online in just 48 hours without going to the bank or embassy and can deposit their bills or fees sitting abroad while many other facilities are also available for the RDA holders.