RDA surpasses 600,000 accounts, $6.5bn inflow

August 13, 2023 (MLN): Roshan Digital Account program has achieved a significant milestone as total accounts opened crossed the mark of 600,000 while total funds inflow also surpassed $6.5 billion since its launch, the State Bank of Pakistan (SBP) informed on Saturday through its official Twitter account. 

The central bank also acknowledged overseas Pakistanis for their valued trust. 

#RoshanDigitalAccount reaches significant milestone today as total accounts opened cross 600,000 while total funds inflow also surpassed $6.5bn. We thank our #OverseasPakistanis for their valued trust.
Details: https://t.co/bZHwNnSNIx pic.twitter.com/kDWfweqVBv

— SBP (@StateBank_Pak) August 12, 2023

By the end of June 30, 2023, the total inflows into RDA stood at $127 million, bringing the total cumulative inflows into RDA to $6,350m. However, the amount repatriated and locally utilized during the month was $139m showing that the Net Repatriable Liability of RDA decreased by $12m in June.

The amount repatriated during the month was $24m while $115m was utilized locally.

Total cumulative repatriation and local utilization stood at $5,229m out of which $1,452m has been repatriated while the locally utilized amount was $3,777m making the Net Repatriable Liability (NRL) $1,121m or 17.65% of Total RDA.

Breakup of the NRL shows $321m was still invested in Conventional Naya Pakistan Certificates (NPC), $377m was in Islamic NPC, Equity investment stood at $18m, Balances in Accounts was $385m while Other Liabilities stood at $20m.

The total amount received during the current financial year was $1,744m compared to $3,044m in the corresponding period of the previous year.

Total repatriation and local utilization during the current financial year was $2,312m compared to $2,489m in the corresponding period last year.

During the month of June, 10,861 new accounts were opened taking the total number of accounts to 585,885.

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 were recorded in July 2022 during which NRL of RDA reduced by $330m.

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