Governor State Bank of Pakistan Reza Baqir hinted at the introduction of health and life insurance for the relatives of overseas Pakistanis, allowing them to avail these services under the Roshan Digital Account.
Speaking to the audience in a video message, he said the number of services will be increasing for overseas Pakistanis and their relatives for utilizing Roshan Digital Accounts and its various features.
Roshan Digital Account was established for the facilitation of overseas Pakistanis for sending remittances easily to their family members. Various services under the account have been introduced in less than one year including auto and home financing, investment facilities on Pakistan Stock Exchange (PSX), and Government Bond and Securities.
Reza Baqir expressed his gratitude to overseas Pakistanis for their overwhelming response to using Roshan Digital Accounts and its features.
Over $4 billion has been received under RDA from 4 million account holders belonging to 175 countries in one and a half years.
Baqir rubbished rumors on social media that RDA witnessed an outflow of $1-2 billion from RDA.
RDA Receives Highest Monthly Inflows of $290 Million In March
In March 2022, the cumulative monthly inflows of remittances in Roshan Digital Accounts had the highest-ever monthly value of $290 million.
The governor reiterated that the initiative of RDA is not going to end but it will continue to provide various facilities to overseas Pakistanis with new features, products, and commercial banks.
Roshan Digital Account is the easiest way for overseas Pakistanis to do banking and investment, he added.
RDA is a project of the State Bank of Pakistan (SBP) in collaboration with commercial banks, he concluded.
