RDA Appeals Over USD 671 Million in Deposits: SBP
Karachi: According to news reports, the State Bank of Pakistan (SBP) reported that the Roshan Digital Account (RDA) project has been successful in luring USD 671 million from more than 100,000 account customers.
According to SBP, Pakistanis living abroad in more than a hundred nations have established accounts and made deposits, demonstrating that the RDA effort is expanding in scope in addition to assisting the government of Pakistan in closing the current account deficit.
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On September 10, 2020, Prime Minister Imran Khan announced the RDA. It is a cooperative effort involving Pakistan’s federal government, commercial banks, and central bank.
Due to its diverse product line and investment fields, RDA has expanded to other institutions after being initially offered at eight commercial banks. To entice more non-resident Pakistanis, the project promises a better return on deposits than those in the developed economies.
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