The inflow of foreign exchange through the Roshan Digital Accounts (RDAs) has reached the $1.25 billion mark, as revealed by officials during a webinar arranged by the Habib Bank Limited (HBL) in collaboration with the State Bank of Pakistan (SBP), and the Pakistan High Commission Canada.
The RDA initiative had been launched in September 2020 to facilitate overseas Pakistanis in banking, payments, and investment activities.
Since its launch, the number of RDAs and the flow of foreign exchange through these accounts have grown consistently. So far 160,000 overseas Pakistanis from over 170 countries have invested $1.25 billion in the RDAs.
The SBP’s latest quarterly report ‘The State of Pakistan’s Economy’ for the fiscal year 2020-21 shows the RDAs as a positive development in the external sector.