"Digital Revolution: Roshan Digital Account Records a 17% Surge, Reaching $160 Million Inflows in December 2023"



Since its introduction in September 2020, the Roshan Digital Account (RDA) has marked a remarkable journey, evolving into a substantial contributor to foreign inflows. As of December 2023, the platform has garnered a total of $7.195 billion, reflecting its growing influence and popularity in just over three years since its inception. This success underscores the global embrace of RDA as a preferred avenue for financial engagement and investment.

The Roshan Digital Account (RDA) facility has empowered non-resident Pakistanis (NRPs) by offering them the convenience of remotely opening accounts with designated Pakistani banks. 

Through an efficient online system, NRPs can seamlessly conduct various banking services, including money transfers, utility payments, educational expenses, and other financial transactions, as well as invest in Pakistan. 

Since its inception, the RDA has proven to be a magnet for significant inflows, maintaining a monthly average surpassing $200 million. This consistent appeal reflects the trust and utility that NRPs find in the platform for their financial needs and investments in Pakistan.


The dynamics of Roshan Digital Account (RDA) transactions are meticulously recorded in Pakistan's balance of payments statement, directly influencing the nation's foreign exchange reserves.

Introduced as a strategic response to the substantial outflows of foreign investments from domestic bonds triggered by the Covid-19 pandemic in 2019, the RDA has played a pivotal role in reshaping the economic landscape. 

While the pandemic-induced panic prompted a withdrawal of nearly all foreign investment from domestic bonds, the RDA provided a much-needed cushion.

 Overseas Pakistanis played a crucial role in this shift, steadily increasing investments in Naya Pakistan Certificates (NCPs) and other avenues.


As per the State Bank of Pakistan (SBP) data, total RDA inflows have witnessed both repatriation and local utilization. A noteworthy $1.538 billion has been repatriated, while $4.442 billion has been utilized within the country. 

This results in a net repatriable liability of $1.215 billion as of December 31, 2023. The distribution of this liability includes $786 million in Naya Pakistan Certificates, $331 million in conventional NPCs, and $455 million in Islamic instruments.


The SBP reports a steady growth in the number of RDA accounts, with a total of 651,057 accounts opened, reflecting the platform's increasing popularity. 

Offering an attractive 8% profit on US dollar investments, the RDA stands out as a compelling choice for overseas Pakistanis, presenting a more lucrative alternative compared to traditional international banking options for holding dollars.
 

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