ISLAMABAD – Inflow of remittances under Roshan Digital Account (RDA) roseto US $3.92 billion by the end of March 2022 as compared to US $3.632billion till end of February last year, according to a latest data releasedby the State Bank of Pakistan.
The data showed that the inflows of remittances during the month of Marchwere recorded at $290 million as compared to $250 million in February and$222 million in January, 2021.
Roshan Digital Account (RDA) was launched by State Bank of Pakistan incollaboration with commercial banks operating in the country.
These accounts provide innovative banking solutions to millions ofNon-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card(POC) holders, seeking to undertake banking, payment and investmentactivities in Pakistan.
As per data, expatriate Pakistanis from 175 countries had deposited thefunds to 388,494 accounts opened through RDA.
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The number of accounts has also been increased from 365,182 in February to388,494 in March 2022, which means some 23,312 new accounts were opened inMarch.
The scheme that started in September 2020 received lukewarm response fromthe overseas Pakistanis who deposited only $7 million in the opening month,however with the passage of time the interest kept on increasing as theinflow reached to $40 million in October 2020 and $110 million in thesubsequent month.
