RDA inflows cross $5b mark in 25 months

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Inflow of remittances under Roshan Digital Account (RDA) rose to US $5.15 billion by the end of September 2022 as compared to US $4.981 billion till end of August, according to data released by the State Bank of Pakistan on Thursday.

The data showed that the inflows of remittances during the month of September were recorded at $168 million as compared to $187 million in August and $188 million in July, 2022. Roshan Digital Account (RDA) was launched by State Bank of Pakistan in collaboration with commercial banks operating in the country.

These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment and investment activities in Pakistan. As per data, expatriate Pakistanis from 175 countries had deposited the funds to 472,023 accounts opened through RDA.

The number of accounts has also been increased from 456,732 in August to 472,023 in September 2022, which means some 15,291 new accounts were opened in the month under review.—APP

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