The State Bank of Pakistan (SBP) recently released data indicating thatforeign exchange inflows through the Roshan Digital Accounts (RDAs) reacheda remarkable $6.617 billion by the close of August 2023. This substantialsurge in foreign investment is a clear indication of the increasingconfidence that global investors have in Pakistan’s economic potential.
The RDAs were introduced as a part of the government’s broader initiativeto ease financial transactions and investments for overseas Pakistanis intheir home country, and their success has been swift since their inception.
The central bank’s data reveals that, up to the end of August, accountholders have repatriated a total of $1.484 billion, while an impressive$4.006 billion has been utilized within Pakistan. This combined amount,which stands at $5.49 billion, leaves a net repatriable liability of $1.128billion.
August witnessed significant activity within the RDAs, with $130 million infunds received, $10 million repatriated, and $122 million utilized withinthe country. Notably, the net repatriable liability remained stable,maintaining the same figure seen in July, at $1.128 billion.
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The RDAs have become increasingly popular among overseas Pakistanis, with atotal of 606,865 accounts opened since their launch, marking a significant1.8 percent increase on a monthly basis. This growth reflects the trust andenthusiasm of the diaspora in engaging with Pakistan’s financial ecosystemand contributing to the nation’s economic development.
