In a setback, Roshan Digital Accounts inflows hit lowest level of last 2 years

In a setback, Roshan Digital Accounts inflows hit lowest level of last 2 years

The inflows under Roshan Digital Account witnessed a decline of almost 25percent with inflows standing at $188 million — a much lower number thanJune.

According to the State Bank of Pakistan (SBP), the total deposits under RDAincreased to $4.794 billion in July from Rs. 4.606 billion which wasreported in June.

According to official data, the deposits under the RDAs registered inflowsof $188 million in July 2022, as compared to $250 million in June, whichdepicts a month-on-month decrease of 24.8 percent.

The monthly inflows have been consistently above the $200 million afterFebruary 2021 (inflows of $169 million), with just two months i.e. May 2021with inflows of $197 million and May 2022 with inflows of $189 millionfailing to cross the $200 million mark.

A total of 441,344 RDAs have been opened since they were launched,representing a 2.8 percent increase on a monthly basis from 429,364 in June.

Moreover, the total investments made through the RDA inflows totaled $3.1billion from September 2020 to July 2022. So far, conventional NayaPakistan Certificates (NPCs) have received $1,635 million, whereas IslamicNPCs collected $1,454 million. Meanwhile, stocks received $41 million ininflows over the same period.