Roshan Digital Account crosses $1bn milestone: PM

April 24, 2021 (MLN): The Roshan Digital Account (RDA) launched in September last year, has crossed a major milestone and hit the $1 billion mark as overseas Pakistanis continued to show trust in the Central Bank initiative.

Taking to official Twitter handle on Saturday, Prime Minister Imran Khan thanked non-resident Pakistanis and appreciated the banks and State Bank of Pakistan (SBP) for achieving the milestone in such a short period.

"Alhamdulilah, funds received through Roshan Digital Account have crossed $1bn. I would like to thank our overseas Pakistanis for their overwhelming response; also appreciate the efforts of SBP & banks for achieving this significant milestone in such a short period," the Prime Minister tweeted.

Roshan Digital Account is a major initiative of the State Bank of Pakistan, in collaboration with commercial banks operating in Pakistan. These accounts provide innovative banking solutions for millions of Non-Resident Pakistanis (NRPs) seeking to undertake banking, payment, and investment activities in Pakistan.

In almost a month period RDA attracts $194mn. On March 21, 2021, deposits through RDA were at $806mn.

In September 2020, when it was launched it attracted only $6mn.

According to analysts, by June 2021 it might easily be near to the $1.5bln mark.

Copyright Mettis Link News