Roshan Digital Account inflows soar to $7.660 bln in March 24

The inflow of remittances under the Roshan Digital Account (RDA) rose to $7.660 billion by the end of March 2024 as compared to $7.478 billion by February (2024) end, according to the latest data released by the State Bank of Pakistan (SBP).

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.

The number of accounts registered under the programme also rose by 11,091 to 679,792 in March 2024 from 668,701 accounts in February 2024, the State Bank of Pakistan said in a statement.

By the end of March 2024, overseas Pakistanis have invested US $312 million in Naya Pakistan Certificates, US $528 in Naya Pakistan Islamic Certificates, and US $31 million in Roshan Equity Investment, the central bank said.

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.