US$2.7 bn received via remittances in September as RDA inflow hike: SBP

KARACHI: State Bank of Pakistan (SBP) on Friday announced receiving US$2.7 billion via workers’ remittances in September 2021, further sharing that the Roshan Digital Accounts (RDA) have so far received US$2.41 billion, ARY NEWS reported.

Sharing details from its Twitter handle, the central bank said that workers’ remittances were recorded at US$2.7 billion in September 2021, witnessing an increase of 0.5 percent on a month-on-month basis and 16.9 percent on a year-on-year basis.

Workers’ remittances recorded $2.7 bn in Sep21; up by 0.5% on m/m and 16.9% on y/y basis. Cumulatively, remittances reached to $8.0 bn in Q1-FY22; a significant growth of 12.5% over the same period last year: https://t.co/7XBd4uNES4 pic.twitter.com/7kegibXSHM

— SBP (@StateBank_Pak) October 8, 2021

“Cumulatively, remittances reached to US$8.0 bn in Q1-FY22; a significant growth of 12.5% over the same period last year,” the SBP said.

It further shared that until September 30, US$2.41 billion have been deposited in the Roshan Digital accounts (RDA) as 248,723 Pakistanis across 172 countries have opened their accounts.

“Trend of investments through Roshan Digital Accounts is also on the rise,” it said adding that Rs1.66 billion have been invested through RDA in Naya Pakistan certificates.

The traditional Naya Pakistan certificates saw an investment of US$960 million while Islamic Naya Pakistan certificates saw an investment of US$690 million besides an investment of US$25 million in the stock market, the SBP data showed.