AGL 5.39 Decreased By ▼ -0.11 (-2%)
ANL 8.45 Decreased By ▼ -0.04 (-0.47%)
AVN 75.80 No Change ▼ 0.00 (0%)
BOP 5.20 Decreased By ▼ -0.04 (-0.76%)
CNERGY 4.41 Decreased By ▼ -0.01 (-0.23%)
EFERT 81.63 No Change ▼ 0.00 (0%)
EPCL 49.40 Decreased By ▼ -0.30 (-0.6%)
FCCL 12.55 Decreased By ▼ -0.24 (-1.88%)
FFL 5.54 Increased By ▲ 0.04 (0.73%)
FLYNG 6.73 No Change ▼ 0.00 (0%)
FNEL 4.60 Decreased By ▼ -0.10 (-2.13%)
GGGL 8.45 Increased By ▲ 0.03 (0.36%)
GGL 13.90 Decreased By ▼ -0.05 (-0.36%)
HUMNL 6.12 Increased By ▲ 0.04 (0.66%)
KEL 2.58 Increased By ▲ 0.02 (0.78%)
LOTCHEM 27.60 Decreased By ▼ -0.05 (-0.18%)
MLCF 23.60 Decreased By ▼ -0.19 (-0.8%)
OGDC 71.75 Increased By ▲ 0.65 (0.91%)
PAEL 15.11 Increased By ▲ 0.08 (0.53%)
PIBTL 4.88 Decreased By ▼ -0.02 (-0.41%)
PRL 15.80 Decreased By ▼ -0.18 (-1.13%)
SILK 1.09 Decreased By ▼ -0.01 (-0.91%)
TELE 8.85 Increased By ▲ 0.03 (0.34%)
TPL 7.15 Increased By ▲ 0.07 (0.99%)
TPLP 19.32 Increased By ▲ 0.06 (0.31%)
TREET 20.90 Increased By ▲ 0.05 (0.24%)
TRG 135.90 Decreased By ▼ -0.70 (-0.51%)
UNITY 16.35 Decreased By ▼ -0.20 (-1.21%)
WAVES 9.22 Decreased By ▼ -0.03 (-0.32%)
WTL 1.39 Increased By ▲ 0.04 (2.96%)
BR100 4,157 Decreased By -0.6 (-0.02%)
BR30 15,316 Decreased By -23.1 (-0.15%)
KSE100 41,648 Decreased By -3.8 (-0.01%)
KSE30 15,391 Increased By 10.7 (0.07%)
Follow us

Cumulative inflow under the Roshan Digital Accounts (RDA) reached $5.14 billion at the end of September, 25 months since the programme was launched, according to data released by the State Bank of Pakistan (SBP).

RDA inflows decreased by 10% month-on-month to $168 million in September, down from $187 million in August 2022 and the lowest monthly inflow since January 2021.

Meanwhile, out of the overall $5.149 billion deposited in RDAs, $3.262 billion or almost 63.35% have been invested in Naya Pakistan Certificates (NPCs), data shows. Of this, $1,691 million have been invested in conventional NPCs, whereas $1,571 million have been invested in Islamic NPCs.

May RDA inflows rise to $4.4bn

Meanwhile, just $45 million, or less than 1%, has made its way into the Pakistan Stock Exchange (PSX).

Overseas Pakistanis from 175 countries have so far opened some 472,023 accounts under RDA. On a monthly basis, the number of accounts opened increased by 3%.

This is the first time in Pakistan’s history that non-resident Pakistanis (NRPs) are being provided an opportunity to remotely open an account in Pakistan through an entirely digital and online process without any need to visit a bank branch.

The RDA is an initiative of the State Bank, in collaboration with commercial banks in Pakistan, to provide innovative banking solutions to NRPs, including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment and investment activities in the country.

The initiative was launched in September 2020 by the SBP and offered up to 7% profit on US dollar investment.

Last month, the central bank increased the rate of return for investment in PKR-denominated NPCs by up to 550 basis points (bps). However, the rate of return on US dollar-dominated certificates has remained unchanged.

The rate of return on 3-Month PKR-dominated NPCs, with a minimum investment of 10,000 with integral multiples of 1,000, has increased from 9.50% to 15%, and the rate of return on 6-Month PKR-dominated certificates rose by 5.25% to 15.25%.

In addition, the rate of return on 12-Month PKR-dominated NPCs surged by 5% to 15.50%, for 3-year certificates it went up from 10.75% to 14%, while the rate of return on 5-year NPCs increased from 11% to 13.5%.

Comments

Comments are closed.

Roshan Digital Account: Inflows clock in $5.14bn in 25 months

Forex reserves fall to $6.7bn on repayments

CARs: ADB lists barriers to trade flows

FX reserves may rise in H2FY23: All debt repayments on track, says SBP governor

Saudi Arabia, China sign strategic deals

‘Country of Particular Concern’: Pakistan conveys its concerns to US

765kV DC transmission lines: FD asks PD to take action on award of contract

Cabinet approves restoration of 11 revoked POL exploration licences

Amendments to power plants’ documents,transition from USD Libor benchmark to SOFR: MoF urges PD to nominate body as focal point

Consignments of imported soybean feed: FTO may issue release order today

Pharma supplies: KTBA urges FBR to revisit clarification about ‘further tax’