RDA survey reveals strong remittance confidence, driven by family support

June 22, 2022 (MLN): State Bank of Pakistan (SBP) today released the finding of a customer satisfaction survey of Roshan Digital Account (RDA) wherein the results show the strong confidence of overseas Pakistani in it for sending money home, driven by financial needs of family and friends.

This poll was conducted between March 24- April 11, 2022, with 10,000 depositors. Out of this, 9,777 responded to this from 116 countries. Around 70% participation was from Gulf Countries (GCC) to find out how easy RDA is for investment purposes.

Out of total depositors, 36% respondents belong to Saudi Arabia, 23% from UAE, and 10% from EU+UK.

The survey found that 71% of the respondents were satisfied with various aspects of making investments via RDA while 67% were happy with the timely payment of profit and disinvestment proceeds. The survey findings revealed that 65% consumers were contented with the visibility of the exchange rate on the conversion of funds.

The majority of respondents are aware that RDA allows repatriation of funds and was satisfied with this facility.

Regarding motives for opening a digital account, the survey found that 70% of the respondents have opened RDA to send money for family support, followed by payments of bills and fees (28%), investment in Naya Pakistan Certificate (26%), while 25% and 22% consumers invested in Islamic Naya Pakistan Certificate and in real estate, respectively.

Approximately 70% of the respondents are frequent users of RDA.

To note, the number of depositors in RDA reached 400,000-mark. And for them, the most popular products are Roshan Apni Car (RAC) and Roshan Apna Ghar (RApG).

On the flip side, the results showed that 62% of respondents faced issues while using RDA, mostly technical issues and delays in transferring funds into the account.

Copyright Mettis Link News