Roshan Digital Accounts attract $8.7bn in four years

Roshan Digital Accounts (RDAs) have received a total of $8.7 billion as of September 2024, according to the latest figures from the State Bank of Pakistan (SBP). 

In September alone, RDAs witnessed a modest increase in deposits, totaling $168 million, up from $165 million the previous month. 

From September 2020 to September 2024, the RDA has drawn $8.749 billion. Of this, $1.663 billion has been sent back overseas, while $5.554 billion has been utilized within the country, leaving net repatriable liabilities at $1.532 billion.

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.

Market analysts noted that despite a slight 3.0% month-on-month decrease in new accounts, the funds received through RDAs have seen a 2.0% increase, indicating sustained interest from current account holders. 

They emphasized that $1.53 billion, representing 17.52% of the total inflows, is available for repatriation, demonstrating a strong commitment by the diaspora to keep the majority of funds invested in Pakistan.