ANL 22.45 Decreased By ▼ -0.65 (-2.81%)
ASC 15.96 Decreased By ▼ -0.14 (-0.87%)
ASL 22.40 Increased By ▲ 0.15 (0.67%)
BOP 8.40 Decreased By ▼ -0.15 (-1.75%)
BYCO 8.80 Decreased By ▼ -0.16 (-1.79%)
FCCL 17.91 Decreased By ▼ -0.16 (-0.89%)
FFBL 24.95 Increased By ▲ 0.50 (2.04%)
FFL 17.32 Decreased By ▼ -0.58 (-3.24%)
FNEL 8.23 Decreased By ▼ -0.17 (-2.02%)
GGGL 21.43 Decreased By ▼ -0.66 (-2.99%)
GGL 41.20 Decreased By ▼ -1.98 (-4.59%)
HUMNL 7.05 Increased By ▲ 0.03 (0.43%)
JSCL 20.35 Decreased By ▼ -0.50 (-2.4%)
KAPCO 37.96 Increased By ▲ 0.06 (0.16%)
KEL 3.55 Decreased By ▼ -0.06 (-1.66%)
MDTL 2.99 Decreased By ▼ -0.01 (-0.33%)
MLCF 36.67 Increased By ▲ 0.37 (1.02%)
NETSOL 151.40 Decreased By ▼ -1.90 (-1.24%)
PACE 5.85 Decreased By ▼ -0.13 (-2.17%)
PAEL 31.10 Decreased By ▼ -0.10 (-0.32%)
PIBTL 9.31 Decreased By ▼ -0.05 (-0.53%)
POWER 7.91 Increased By ▲ 0.01 (0.13%)
PRL 20.25 Decreased By ▼ -0.60 (-2.88%)
PTC 10.34 Decreased By ▼ -0.06 (-0.58%)
SILK 1.71 Increased By ▲ 0.04 (2.4%)
SNGP 44.67 Increased By ▲ 1.48 (3.43%)
TELE 22.20 Increased By ▲ 0.14 (0.63%)
TRG 174.60 Increased By ▲ 1.10 (0.63%)
UNITY 35.60 Decreased By ▼ -0.60 (-1.66%)
WTL 3.18 Decreased By ▼ -0.07 (-2.15%)
BR100 4,961 Decreased By ▼ -18.06 (-0.36%)
BR30 24,423 Decreased By ▼ -37.02 (-0.15%)
KSE100 46,528 Decreased By ▼ -107.87 (-0.23%)
KSE30 18,422 Decreased By ▼ -58.36 (-0.32%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,246
4024hr
Pakistan Cases
1,226,008
2,16724hr
4.22% positivity
Sindh
450,787
Punjab
422,790
Balochistan
32,769
Islamabad
104,242
KPK
171,388
Business & Finance

PM Khan visit to KSA having positive impact on forex reserves: Baqir

  • The Governor said Pakistani community in Saudi Arabia is showing greater interest in RDAs following the Prime Minister's recent visit to the Kingdom.
20 May 2021
Courtesy: PPI
Courtesy: PPI

Governor State Bank of Pakistan (SBP) Reza Baqir has said that the Roshan Digital Accounts is having a positive impact on the country’s forex reserves.

Reza Baqir, the central bank chief called on Prime Minister Imran Khan in Islamabad on Thursday and held detailed discussion regarding Roshan Digital Account (RDA).

The Governor said Pakistani community in Saudi Arabia is showing greater interest in RDAs following the Prime Minister's recent visit to the Kingdom. He said this is having a positive impact on the foreign exchange reserves.

The deposited amount in RDAs crossed the $1 billion mark during the eight months. As per SBP, the increase comes on the back of an inflow of $ 194mn in April. Inflows have been accelerating every month since the RDA launch in September 2020.

The RDAs was launched in September 2020 by Prime Minister Imran Khan. The RDA is a new initiative of the 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

Comments

Comments are closed.