Roshan Digital Account inflows cross $8 billion in May 2024

ISLAMABAD: The inflow of remittances under Roshan Digital Account (RDA) has risen to $8.055 billion by the end of May 2024 as compared to $7.831 billion by April 2024 end, according to the latest data released by the State Bank of Pakistan (SBP).

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According to media reports, data showed that the inflows of remittances during April were recorded at $224 million as compared to $171 million in March and $182 million in February 2024.

These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment, and investment activities in Pakistan.

The number of accounts registered under the programme also rose by 12,960 to 702,610 in May 2024 from 689,650 accounts in April 2024. By the end of May, overseas Pakistanis have invested $338 million in Naya Pakistan Certificates, $582 in Naya Pakistan Islamic Certificates, and $37 million in Roshan Equity Investment.

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The Roshan Digital Account was introduced by the central bank to facilitate overseas Pakistanis in sending remittances and investing in Pakistan. – INP