Roshan Digital Account Inflows Increase to $8.581 Billion by August 2024

The State Bank of Pakistan (SBP) has reported a notable rise in remittances through the Roshan Digital Account (RDA), reaching $8.581 billion by the end of August 2024. This is an increase from the $8.416 billion recorded at the end of July.

August saw remittance inflows of $165 million, up from $161 million in July but slightly below June’s $200 million. These accounts offer advanced banking solutions for Non-Resident Pakistanis (NRPs) and Non-Resident Pakistan Origin Card (POC) holders, facilitating banking, payment, and investment activities in Pakistan.

The number of RDAs also grew significantly, with registrations increasing by 11,515 to a total of 735,113 accounts by August, compared to 723,598 in July.

In terms of investment, overseas Pakistanis have invested $370 million in Naya Pakistan Certificates, $638 million in Naya Pakistan Islamic Certificates, and $41 million in Roshan Equity Investment as of the end of August.