KARACHI: Overseas Pakistanis have remitted approximately $1.6 billion through Roshan digital accounts (RDAs) in less than one year, according to the central bank on Saturday, using funds for financial transactions and investments in their homeland.
Total 181,556 accounts have been opened from 171 countries across the world and 1.562 billion has been deposited in these accounts through end-June 2021, according to online data of the State Bank of Pakistan (SBP).
The webpage shows monthly trends in the number of accounts opened, deposits, and investments in Naya Pakistan Certificates (NPCs) and the stock market. The data shows an accelerating trend across all these dimensions over the last few months. June 2021 saw the highest monthly amount of deposits ($310 million) and NPC investments ($233 million) since the launch of RDA. As of end-June, $1.050 billion has been invested in NPCs, with $621 million in conventional NPCs and $429 million in Islamic NPCs.
Since its launch on 10th September, 2020, RDA, connecting the diaspora to the local financial system and economy, has attracted significant interest from overseas Pakistanis.