The Roshan Digital Account (RDA) program continues to gain momentum, with a significant increase in both remittance inflows and account registrations.
According to the State Bank of Pakistan (SBP), the total amount deposited through RDAs reached a staggering US $8.055 billion by the end of May 2024. This is an impressive jump of US $224 million compared to April 2024.
Remittances on the Rise
The program is proving to be a game-changer for attracting investment from overseas Pakistanis. Remittances flowing through RDAs are steadily increasing, with a month-on-month rise of over $20 million since March 2024. This trend indicates growing confidence among Non-Resident Pakistanis (NRPs) in using RDAs for sending money back home.
More Accounts, More Opportunities
The number of RDA accounts is also witnessing a healthy rise. By May 2024, over 702,610 accounts were registered, reflecting a surge of almost 13,000 accounts compared to April. This growing base of users opens up exciting possibilities for Pakistan’s investment landscape.
Investing in Pakistan’s Future
NRPs are not just sending money home; they are also actively investing in Pakistan’s future. The data reveals that by the end of May, overseas Pakistanis have invested a significant amount in various investment avenues offered through RDAs. This includes US $338 million in Naya Pakistan Certificates, US $582 million in Naya Pakistan Islamic Certificates, and US $37 million in Roshan Equity Investment.
