Govt’s Roshan Digital Account Initiative Crosses Massive Milestone

The number of Roshan Digital Account (RDA) holders has reached 500,000, according to the State Bank of Pakistan’s (SBP). “Thanks to our Overseas Pakistanis & participating banks, we have passed the major milestone of 500,000 Roshan Digital Accounts,” the central bank said in a Tweet on Friday. “SBP is committed to taking this initiative to new heights & continuing to serve [the] needs of Overseas Pakistanis,” it added. As of November 2022, foreign exchange inflows through RDAs were recorded at a total of $5.4 billion. Deposits under RDAs registered inflows of $141 million (-3.4 percent) during the period, compared to $146 million in October. The central bank is working on enhanced RDA facilities for overseas Pakistanis for doing business and investments in Pakistan. The banking regulator is also working to increase the number of participating banks for enhancing the coverage of RDA services to different countries.