Inflows through Roshan Digital Account (RDA) have reached nearly $6.5-billion by July-end, the State Bank of Pakistan (SBP) said on Wednesday.

The central bank shared that total number of RDA accounts opened has reached 596,268 from 585,885 a month ago in June-end.

As per latest data available on SBP’s website, the cumulative RDA inflow clocked in at $6.49 billion by the end of the previous month, out of which $1.474 billion has so far been repatriated, while funds to the tune of $3.884 billion have been utilised locally.

This means total net repatriable liability stands at $1.128 billion as of July-end.

Total net repatriable liability

Out of the total outstanding liability, an amount of $709 million is with Naya Pakistan Certificates (conventional and Islamic instruments).

Similarly, an amount of $377 million is ‘balances in accounts’, according to the SBP.

Roshan Equity Investments stood at a meagre $21 million.

Background

RDA is a significant source of foreign exchange inflows for cash-starved Pakistan.

The initiative was launched in September 2020 by the SBP and offers up to 8% percent profit on US dollar investments.