Deposits in Roshan Digital Accounts cross $ 800mn mark: SBP

The deposited amount in newly-launched Roshan Digital Accounts (RDA) has crossed the $800 million mark during the seven months.

As per the State Bank of Pakistan (SBP), the increase comes on the back of an inflow of $ 212mn in March. Inflows have been accelerating every month since the RDA launch in September 2020.

The Roshan Digital Account was launched in September 2020 by Prime Minister Imran Khan. The Roshan Digital Account is a new initiative of the State Bank of Pakistan (SBP), in partnership with major banks in Pakistan to facilitate the NRPs for banking services in Pakistan.

The Roshan Digital Account is for NRPs, who are seeking to undertake banking, payment and investment activities in Pakistan. Through this account, they will be fully integrated with Pakistan’s banking and payments system. For the first time in the country’s history, NRPs will be able to open an account in Pakistan without requiring physical presence either in Pakistan or in any embassy or consulate.

This account provided them access to a full range of banking services and exciting investment opportunities in Pakistan from wherever they live. NRPs can invest in Naya Pakistan Certificates, stock market, and real estate through Roshan Digital Accounts. Funds in these accounts can be fully repatriated without any prior approval from the SBP