Pakistan Will Gain $1.5B in Investments

Pakistan Will Gain $1.5B in Investments Through Roshan Digital Accounts

Within six months, The RDA Programme has garnered $671 million. 

Pakistan Will Gain $1.5B in Investments Through Roshan Digital Accounts

Experts predict that Pakistan will receive an estimate of $1.5 billion in foreign currency inflows through the Roshan Digital Account (RDA) programme this year. There has been an increased interest in the central bank’s initiative by overseas Pakistanis. 

The RDA scheme, initiated by the State Bank of Pakistan (SBP) was set in place to offer a number of investment opportunities and provide remittance relief for investors. Since its launch in September of 2020, more than 100,000 people have registered for this service. 

State Bank of Pakistan tweeted: “Roshan Digital Account has just crossed 100,000 accounts. In addition, they have been open to 100 countries around the world. Deposits have reached $671 million, with half of these coming in the last 8 weeks alone,” 

The growing interest of non-resident Pakistanis is an indicator that RDA has successfully reached a wide majority, which will be instrumental in improving the external account of the nation according to the SBP. The RDA programme provides great incentives such as a higher return on the deposit rate than the latter in countries with developed economies. Also, enabling overseas Pakistanis to open bank accounts remotely with the aid of online digital portals like RDA. 

“This initiative offers ease of payment facility for utility bills, school fees, local transfer of accounts and better returns on Naya Pakistan Certificates. These are some of the basic facilities overseas Pakistanis are looking for to help out their families while working abroad and at the same time saving some money for their future as well”. Samiullah Tariq, head of research at Pakistan Kuwait Investment Company, expressed in a statement to UAE’s leading English newspaper Khaleej Times.

Pakistan Will Gain $1.5B in Investments Through Roshan Digital Accounts

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