Roshan Digital Account inflows rise to $8.953 bln in October 2024

The inflow of remittances under Roshan Digital Account (RDA) has risen to US $8.953 billion by the end of October 2024 as compared to US $8.749 billion by September (2024) end.

The data showed that the inflows of remittances during October were recorded at US$ 204 million as compared to US$ 168 million in September and US$ 165 million in August 2024, according to the latest data released by the State Bank of Pakistan (SBP).

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 11,336 to 757,587 in October 2024 from 746,251 accounts in September 2024.

By the end of October, overseas Pakistanis have invested US $393 million in Naya Pakistan Certificates, US $687 in Naya Pakistan Islamic Certificates, and US $45 million in Roshan Equity Investment.

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.