RDA realization of vision of PM: Governor SBP

KARACHI: State Bank of Pakistan (SBP) Governor Reza Baqir Wednesday said that Roshan Digital Account was a flagship initiative of the central bank which was realization of the vision of Prime Minister Imran Khan to connect overseas Pakistanis with the financial sector of the country.

In his video message for the launch event of Dubai Islamic Bank (DIB) Pakistan RDA held at a local hotel, Reza Baqir said that the central bank to continue its successful journey of RDA had been working day and night along with the banks to improve user experience and to facilitate the RDA holders.

He said to further facilitate the account holders, recently the SBP with the help of government, introduced three major new measures that include streamlining the tax regime for RDA holders, considerable reduction of cost of transferring funds internationally to and from RDA and introduction of Naya Pakistan Certificates in Euro and Pounds in addition to the existing US dollars denominated.

SBP Governor Reza Baqir said that in just few months over 90 thousand accounts have been opened by overseas Pakistanis from 97 countries around the world.

Speaking on the occasion, Deputy Governor SBP Dr. Murtaza Syed said that account opening process for overseas Pakistanis had been completely revolutionized.

He said the central bank had been in forefront for implementation of its flagship initiative. The SBP conducted nearly 50 webinars to promote RDA, held weekly meetings with partner banks and closely monitored the progress.

He welcomed the DIB Pakistan, the tenth bank to join RDA family.

On the occasion Managing Director Deposit Protection Corporation Syed Irfan Ali, Board Member DIB Pakistan Limited Naved A. Khan and others also spoke.