The Roshan Digital Account (RDA) has picked up a hike as it has added over $800 million in six months with the highest amount of $212m received in March, reflecting the rising trend of inflows.
“A big thanks to our Overseas Pakistanis! #RoshanDigitalAccount deposits have crossed $800m, after an inflow of $212m in March. Inflows have been accelerating every month since the RDA launch in September 2020,” the State Bank of Pakistan (SBP) tweeted on Thursday, as the total RDA deposits have reached $806m.
The Roshan Digital Account which is a joint effort of the SBP and federal government was inaugurated by Prime Minister Imran Khan in September. More than 20 commercial banks have so far joined the RDA.
According to bankers, the aim of RDA is to attract millions of Pakistanis living abroad by offering much higher returns on deposits than those in developed economies.