Roshan Digital Account inflows reach $8.41 bn in July 24

ISLAMABAD: The inflow of remittances under Roshan Digital Account (RDA) has risen to US $8.41 billion by the end of July 2024 as compared to US $8.8.25 billion by the end of June 2024, according to the latest data released by the State Bank of Pakistan (SBP).

The data showed that the inflows of remittances during July were recorded at US$ 161 million as compared to US$ 200 million in June 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.

The number of accounts registered under the programme also rose by 10,820 to 723,598 in July 2024 from 712,778 accounts in June 2024.

The Roshan Digital Account was introduced by the State Bank to facilitate overseas Pakistanis in sending remittances and investing in Pakistan.

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.