1,000 Plus Roshan Digital Accounts Being Opened Daily: SBP
According to published reports, the Governor of the State Bank of Pakistan (SBP), Reza Baqir, said that more than one thousand accounts are opened everyday under the Roshan Digital Account (RDA) initiative for expatriate Pakistanis.
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In a briefing to Prime Minister (PM) Imran Khan on the status of the Roshan Digital Account, the governor of the State Bank of Pakistan (SBP) reported that a total of 204,000 accounts have been opened under the RDA project. In response, the prime minister attributed the increase in accounts to the increased confidence of non-resident Pakistanis in the project.
It was reported last month that RDA surpassed the $2 billion mark, a tremendous accomplishment. Under this initiative, the SBP (together with eight of the country’s largest banks) launched a digital banking system through which Pakistanis can access banking services in their home country. In addition, overseas Pakistanis will not be required to open bank accounts in person.
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According to Governor SBP Baqir, the growth rate has increased from negative four percent to four percent, indicating that individuals have begun to work and earn more. He then stated that international remittances increased by 27% over the previous fiscal year. This tendency is anticipated to continue during the current fiscal year.
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