September 7, 2021 (MLN): Foreign Exchange inflows through Roshan Digital Accounts (RDA) reached $2.114 billion by end of August.
It took six months to reach the first $500 million, and two for the next $500mn.
So far, 220,806 accounts have been opened from around 175 counties across different Pakistani banks.
In the month of August-21, the country received $245mn, taking cumulative inflows to $2.114bn. Nearly 2,114 fresh accounts were opened in the said month with tally reaching to 220,806.
While investments in government securities like Naya Pakistan Certificated were recorded at $1.475bn during twelve months, as per key statistics on RDA released by the State Bank of Pakistan (SBP) Thursday. A small portion of $21mn is invested in the stock market.
RDA is a banking facility for Pakistani abroad, which enables them to access banking services within the country without being physically present in the country. These expatriates can invest in NPC, the stock market, and real estate through RDA. It is pertinent to note that the funds in these accounts can be fully repatriated without the prior approval of the SBP.
