RDA attracts $222m in January

February 11, 2025 (MLN): Total inflows into Roshan Digital Accounts (RDA) during January 2025 stood at $222 million, bringing the total cumulative inflows into RDA to $9.56 billion.

Compared to the previous month's inflow of $203m, January showed an increase of $19m.

However, according to data released by the SBP, the amount repatriated and locally utilized during the month was $152m showing that the Net Repatriable Liability of RDA increased by $70m in January.

The amount repatriated during the month was $11m while $141m was utilized locally.

Total cumulative repatriation and local utilization stood at $7.76bn out of which $1.71bn has been repatriated while the locally utilized amount was $6.05bn making the Net Repatriable Liability (NRL) $1.8bn or 18.82% or Total RDA.

Breakup of the NRL shows $479m was still invested in Conventional Naya Pakistan Certificates (NPC), $799m was in Islamic NPC, Equity investment stood at $59m, Balances in Accounts was $428m while Other Liabilities stood at $36m.

The total amount received during the current financial year was $1.31bn compared to $987m in the corresponding period of the previous year.

Total repatriation and local utilization during the current financial year was $940m compared to $877m in the corresponding period last year.

During January the total number of RDA accounts stood at 778,697.

The highest monthly inflow into RDA was recorded in June 2021 during which inflows of $310m were received.

The highest monthly repatriation and local utilization from RDA was recorded in July 2022 during which NRL of RDA reduced by $330m.

However, from mid-2022 to early 2023, there was a sharp decline, with capital outflows reaching nearly $150m, likely due to economic uncertainties and policy shifts.

A gradual recovery began in 2023, with sustained inflows strengthening throughout 2024, indicating renewed investor confidence.

The latest data indicates a monthly increase of $70m, surpassing the average growth of $34.5 million, signaling improved foreign participation and economic stability.

RDA 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.

SBP has made it possible to allow overseas Pakistanis to open an account in a Pakistani bank completely digitally in a presenceless manner and without needing to visit any bank, any embassy, or consulate.

The account opening process requires only basic information and documents, with banks instructed to complete all necessary customer due diligence within 48 hours.

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