Roshan Digital Account inflows register growth, reach $2.1bn in August

The month of August recorded inflow of $244 million compared to $307 million in July and $310 million in June this year, data released by the central bank suggests.

SBP introduced the Roshan Digital Account (RDA) 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.

As per data, expatriate Pakistanis from 175 countries had deposited the funds to 220,806 accounts opened through RDA.

The scheme that started in September last year received lukewarm response from the overseas Pakistanis who deposited only $7 million in the opening month, however with the passage of time the interest kept on increasing as the inflow reached to $40 million in October 2020 and $110 million in the subsequent month.