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Roshan Digital Account Reached New High Since Launch

According to news reports, the State Bank of Pakistan (SBP) stated in October 2021 that total remittances sent by overseas Pakistanis using the Roshan Digital Account (RDA) had reached USD 2,677 billion.

October offshore Pakistani remittances totaled $266 million, which is 10% less than the previous month, September.

Approximately 69% of the total monies sent by Non-Resident Pakistanis (NRPs) in the previous 14 months were invested in Naya Pakistan Certificates, according to publicly available information (NPCs). The substantial return on investment of up to 7% on the dollar and 11% on the rupee is the primary impetus for the rising investment in NPC.

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In addition, under the direction of Prime Minister (PM) Imran Khan, the SBP and commercial banks will allow NRPs to participate in the Pakistan housing sector as well as other sectors such as the automobile industry.

Since the commencement of the RDA plan, all of these reforms have resulted in the opening of 273,411 accounts by Pakistanis residing in 175 different countries, according to SBP data. The number of new accounts increased by 9.92% in the month of October alone.

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