Roshan Digital Accounts in Pakistan Record Foreign Exchange Inflows of $6.35 Billion

 

According to the State Bank of Pakistan (SBP), the Roshan Digital Accounts (RDAs) have seen foreign exchange inflows totaling $6.35 billion by the end of June 2023. The central bank data reveals that $1.452 billion has been repatriated, while $3.77 billion has been utilized locally. The combined repatriated and utilized amount reaches $5.229 billion, leaving a net repatriable liability of $1.121 billion.

In June alone, $127 million was received, with $24 million being repatriated and $115 million utilized within the country. The net repatriable liability for June was recorded at $12 million.

Since their launch, a total of 585,885 RDAs have been opened, reflecting a monthly increase of 1.9 percent.

From September 2020 to June 2023, the RDAs have attracted a net investment of $716 million. NPC Investments (Conventional) accounted for $321 million, NPC Investments (Islamic) stood at $377 million, while Roshan Equity Investments reached $18 million. The total balances in accounts amounted to $385 million, with other liabilities reported at $20 million.

The Roshan Digital Accounts have proven to be a significant avenue for foreign exchange inflows, facilitating individuals living abroad to invest and transact in Pakistan easily. The increasing number of RDAs being opened indicates a growing interest in this digital platform, which promotes financial inclusion and strengthens economic ties with the overseas Pakistani community.

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