Islamabad: According to news released on Thursday, Governor State Bank of Pakistan (SBP) Reza Baqir revealed that over 1,000 accounts are being opened everyday under the Roshan Digital Account (RDA) programme for expatriate Pakistanis (September 23).
While informing Prime Minister Imran Khan on the development of the Roshan Digital Account programme, the SBP governor informed that a total of 204,000 accounts have been opened under the RDA scheme. So far, USD 2.3 billion has been received through these accounts, according to reports. In response, the prime minister linked the increase in accounts to increased confidence in the project among non-resident Pakistanis.
Last month, it was announced that RDA had surpassed the USD 2 billion milestone, which was a significant achievement. The SBP (with the support of eight main banks in the country) launched a digital banking system under this scheme, allowing Pakistanis to access banking services in their home country. Furthermore, foreign Pakistanis will not be required to visit banks in order to open accounts.
According to Governor SBP Baqir, the growth rate has risen from 0% to 4%, indicating that people have begun to work and earn more money. He went on to claim that foreign remittances increased by 27% in the previous fiscal year. This tendency is projected to continue in the current fiscal year.