It is pertinent to mention here that in September 2020, former prime minister Imran Khan launched the Roshan Digital Account project aimed at providing digital banking facilities to overseas Pakistanis for the first time in the country.
Roshan Digital Account inflows drop by 6% in April
- By Web Desk -
- May 24, 2024
AA
ResizeKARACHI: The inflow of remittances under the Roshan Digital Account (RDA) in April dropped by 6 percent less than the $18.20 billion sent in March, ARY New reported quoting SBP.
According to the State Bank, overseas Pakistanis sent $17.10 billion through the Roshan Digital Account in April, which is 6% less than the $18.20 billion sent in March.
Despite the decline, the total number of accounts opened reached 689,650 by the end of April, with 9,858 new accounts opened during the month.
Since its launch in September 2020, the RDA has received a total of $1.58 billion in remittances, and $4.92 billion has been utilized locally.
The Roshan Digital Account was introduced by the State Bank to facilitate overseas Pakistanis in sending remittances and investing in Pakistan.
READ: Roshan Digital Account inflows soar to $7.660 bln in March 24
The inflow of remittances under the RDA rose to $7.660 billion by the end of March 2024 as compared to $7.478 billion by February (2024) end.
The data showed that the inflows of remittances during the month of March were recorded at US$ 182 million as compared to US$ 141 million in February and US$ 142 million in January 2024.
These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment, and investment activities in Pakistan.