RDA records inflows of $141mn in February 2024

Roshan Digital Account (RDA) recorded inflows of $141 million in February 2024, bringing the total inflows into the accounts to $7.498 billion, according to the latest data released by the State Bank of Pakistan (SBP).

The total amount received during the eight months (July-Feb) of the ongoing fiscal year FY2023-24 was recorded at $1.13 billion, down from $1.21 billion in the same period last year. 

In February, 8,895 new accounts were opened, bringing the total number of accounts to 668,701. 

As per SBP data, $119 million was repatriated and locally utilised leaving the Net Repatriable Liability (NRL) of RDA increased by $22 million in February. Out of total $119 million, $9 million was repatriated while while $111 million was utilised locally in February.

Total repatriation and local utilisation during the ongoing fiscal year FY24 amounted to $996 million, a decrease from $1.73 billion in the corresponding period of the previous year. 

Total repatriation and local utilisation from the RDA, from the day it was initiated, stood at $6.23 billion out of which $1.56 billion was repatriated while $4.67 billion was utilised locally.

A breakdown of the Net Repatriable Liability reveals that $304 million was invested in Conventional Naya Pakistan Certificates (NPC), $501 million in Islamic NPC, $32 million in equity investment, $392 million in account balances, and $24 million in other liabilities. 

The highest monthly inflow into RDA occurred in June 2021, with inflows totaling $310. 

The highest monthly repatriation and local utilisation from RDA happened in July 2022, resulting in a reduction of $330 million in NRL of RDA. 

Notably, with the total RDA at $7.48 billion and the NRL at $1.25 billion, NRL represents 16.74% of the total RDA.