AIRLINK 78.61 Increased By ▲ 5.08 (6.91%)
BOP 4.65 Decreased By ▼ -0.02 (-0.43%)
CNERGY 4.03 Increased By ▲ 0.02 (0.5%)
DFML 36.48 Increased By ▲ 0.39 (1.08%)
DGKC 88.25 Increased By ▲ 1.70 (1.96%)
FCCL 22.29 Increased By ▲ 0.31 (1.41%)
FFBL 30.15 Increased By ▲ 0.14 (0.47%)
FFL 9.18 No Change ▼ 0.00 (0%)
GGL 9.92 Increased By ▲ 0.06 (0.61%)
HASCOL 6.11 Decreased By ▼ -0.14 (-2.24%)
HBL 105.00 Decreased By ▼ -0.01 (-0.01%)
HUBC 137.50 Increased By ▲ 0.05 (0.04%)
HUMNL 10.65 Decreased By ▼ -0.10 (-0.93%)
KEL 4.64 Increased By ▲ 0.15 (3.34%)
KOSM 4.00 Increased By ▲ 0.01 (0.25%)
MLCF 37.13 Increased By ▲ 0.43 (1.17%)
OGDC 119.19 Decreased By ▼ -0.21 (-0.18%)
PAEL 23.98 Increased By ▲ 0.01 (0.04%)
PIBTL 6.07 Increased By ▲ 0.02 (0.33%)
PPL 114.05 Increased By ▲ 1.55 (1.38%)
PRL 23.17 Increased By ▲ 0.36 (1.58%)
PTC 12.20 Increased By ▲ 0.30 (2.52%)
SEARL 59.05 Increased By ▲ 0.65 (1.11%)
SNGP 61.98 Increased By ▲ 0.87 (1.42%)
SSGC 9.76 Increased By ▲ 0.11 (1.14%)
TELE 7.67 Increased By ▲ 0.12 (1.59%)
TPLP 9.48 Decreased By ▼ -0.06 (-0.63%)
TRG 63.72 Increased By ▲ 0.62 (0.98%)
UNITY 26.85 Increased By ▲ 0.05 (0.19%)
WTL 1.30 Increased By ▲ 0.01 (0.78%)
BR100 7,583 Increased By 39.5 (0.52%)
BR30 24,238 Increased By 202.6 (0.84%)
KSE100 72,797 Increased By 207.9 (0.29%)
KSE30 23,213 Increased By 76.4 (0.33%)

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.