State Bank to Propose New Schemes to Emigrants
Karachi: The State bank of Pakistan is getting ready to offer two new services to expatriate Pakistanis with Roshan Digital Accounts (RDA), including the ability to donate money using digital banking and to finance cars for their relatives who live in Pakistan.
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RDA inflows have improved the nation’s capacity to make international payments for imports, foreign debt repayments, and exchange rate stabilization. The nation’s foreign currency reserves have increased to nearly $16 billion.
By December 2021, experts predict that deposits and investments in Roshan Digital Accounts will increase by over $2 billion.
The revenue might keep growing. According to two banks, there is a need to keep providing enticing investment opportunities and local financial products to Pakistanis who are not residents in their country.
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Most crucially, account holders are always free to withdraw investments and move money back to the nation where they now reside.
PM Khan will thank the non-resident Pakistanis for depositing significant sums of foreign currency in local banks during his speech.
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