KARACHI: Gross inflows of Roshan Digital Accounts reached $8.75 billion at the end of September 2024 since its launch, the State Bank of Pakistan (SBP) reported on Thursday.

The initiative was launched by the government in September 2020 to facilitate overseas Pakistan for opening of bank accounts from anywhere in the world and offers lifestyle banking products.

During the last four years, RDA has attracted $8.75 billion gross flows. Out of total received funds, an amount of $1.66 billion has been repatriated, while $5.554 billion has been utilized locally. With this net repatriable liability or investment remained at $1.533 billion end of September 2024.

Net Investments and other Liabilities included $380 million investment in conventional Naya Pakistan Certificates (NPCs), $656 million in Islamic NPCs and $41 million in the equity market. Other liabilities are $34 million and balance in accounts is $420 million.

Copyright Business Recorder, 2024