The Roshan Digital Account’s (RDA) inflows stand at $2.916 billion as of November 2021.
In this regard, the State Bank of Pakistan (SBP) on Thursday shared that an inflow to the tune of $239 million was recorded in November as compared to the inflow of $266m recorded in October, showing a month-on-month (MoM) decline of over 10.15 per cent.
The data shows that out of the overall $2.916 billion deposited in RDAs, $1.991bn (68.3 per cent) have been invested in Naya Pakistan Certificates (NPCs), whereas of the total amount invested in NPCs, $1.123bn have been invested in conventional NPCs and $868m have been invested in Islamic NPCs.
Meanwhile, $29m have made their way into the stock exchange through RDAs.
The central bank’s data also shows that 299,676 accounts, from across 175 countries, have been opened so far during the 15-month period. On a monthly basis, the number of accounts opened increased by 9.6 per cent.
Launched in September 2020, the RDA is an initiative of the SBP for Non-Resident Pakistanis (NRP), which is formed in collaboration with commercial banks operating in Pakistan. It allows NRPs to open an account without requiring physical presence either in Pakistan or in any embassy or consulate. It has also facilitated NRPs in conducting banking, payment, and investment activities in the country.
Funds in these accounts can be fully repatriated without any prior approval from the SBP.
