KARACHI: Total inflows under the Roshan Digital Accounts (RDA) surpassed the $6.5 billion mark, the State Bank of Pakistan (SBP) reported on Saturday.

According to the SBP, RDA has achieved a significant milestone as total accounts opened crossed 600,000 while funds inflow also surpassed $6.5 billion.

Roshan Digital Account: SBP says total inflows cross $6.5bn mark

The RDA was launched in September 2020 by the SBP to bring more foreign exchange in the country through overseas Pakistanis. RDA offers investment from 3-month to 5-year with up to 8 percent profit on the US dollar and some 15 percent profit on PKR investments. The RDA is a major initiative of the State Bank, in collaboration with commercial banks operating in Pakistan. These accounts provide innovative banking solutions for millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment and investment activities in Pakistan.

Funds available in the Roshan Digital account can be remitted back from Pakistan without any approval from a bank or the SBP.

Copyright Business Recorder, 2023