RDA webinar engages Canadian Pakistani community

November 21, 2024 (MLN): The Pakistan High Commission, Ottawa in collaboration with the Bank of Punjab and State Bank of Pakistan hosted a comprehensive webinar today, to engage with the vibrant Pakistani diaspora across Canada.

This initiative aimed to provide valuable insights into the benefits and opportunities offered by the Roshan Digital Account (RDA), a flagship program by the State Bank of Pakistan (SBP) in collaboration with commercial banks in Pakistan.

The webinar highlighted the integral role of the Canadian Pakistani community, which comprises over half a million individuals contributing significantly to diverse sectors such as finance, technology, healthcare, and economic development.

Their professional success has driven a robust demand for financial products that facilitate seamless connectivity with Pakistan's banking and financial systems.

Key highlights of the webinar included:

(a) Roshan Digital Account (RDA): A digital platform enabling overseas Pakistanis to remotely open and operate personal bank accounts in Pakistan. This initiative simplifies fund transfers, supports investment in Pakistan's real estate and stock markets, and provides tax benefits.

(b) Impact of Remittances: During the fiscal year 2023-2024, Pakistan received remittances of over $30.2 billion globally, with $504.8 million originating from Canada. RDA has played a pivotal role, enabling over 735,000 accounts across 175 countries, transferring $8.9 billion and repatriating $1.67 billion.

The session provided attendees with detailed insights into the program's features, addressing community queries and showcasing the immense trust and enthusiasm of overseas Pakistanis in contributing to their homeland's economic growth.

During the question-and-answer session, queries from the Pakistani community were responded to by Salman Saeed.

The Pakistan Mission expressed gratitude to the community for their unwavering commitment to Pakistan and reiterated its dedication to strengthening this bond through continuous engagement and support.

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