The Roshan Digital Account (RDA) from overseas Pakistanis have now exceeded $8 billion.
According to the State Bank of Pakistan (SBP), remittances crossed USD 8 billion as of May 24; contributions reflect growing confidence in Pakistan’s financial offerings.
The SBP disclosed that since its initiation in mid-2020, the RDA has shown considerable growth. The number of account holders has surged past 700,000, underscoring the Pakistani diaspora’s increasing engagement with the initiative.
Despite a slight decrease last month, the RDA’s performance remains strong. In April, remittances totalled $17.10 billion, marking a 6% reduction from March’s $18.20 billion. However, the overall trend continues upwards. By the end of April, the total accounts opened stood at 689,650, with 9,858 new accounts added during the month.
Since its launch, the RDA has facilitated $1.58 billion in remittances, with $4.92 billion utilized within Pakistan. This initiative by the State Bank aims to simplify the process for overseas Pakistanis to send money home and invest in their native country.
