Karachi: According to news sources provided on August 16, the State Bank of Pakistan said that the Roshan Digital Account (RDA) initiative has reached a milestone by exceeding the USD 2 billion barriers in just 11 months.
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The RDA project, according to the SBP, crossed the USD 2 billion mark on August 14. The apex bank expressed gratitude to abroad Pakistanis for their trust and support for RDA programs. According to analysts, Pakistanis living abroad have invested in the program’s many offerings. It was also reported that as the central bank presents new investment options, remittance inflows will increase.
Farrukh Habib, Minister of State for Information and Broadcasting, said in a tweet that the higher remittance inflow demonstrates non-resident Pakistanis’ confidence and trust in Prime Minister Imran Khan’s policies.
PM Imran Khan announced the RDA in September 2020, allowing foreign Pakistanis to create bank accounts in Pakistan remotely. SBP, the federal government, and eight commercial banks collaborated on the project.
Read More: Roshan Digital Account influxes cross USD 1.5 billion mark
Analysts and experts predict that the RDA will continue to draw foreign investment, particularly from the Gulf region.
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