Roshan Digital Account Brings Record $6.9 Billion Remittances in October.
In October 2023, the Roshan Digital Accounts (RDA) witnessed a robust surge as overseas Pakistanis channeled $142 million in foreign exchange, contributing to a cumulative inflow of $6.898 billion.
Notably, investments via RDA soared to $753 million, showcasing the growing trust in this digital platform.
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Since September 2020, the cumulative remittance inflow through RDA has reached a substantial $6.998 billion, attesting to the continued reliance of overseas Pakistanis on this secure channel.
The breakdown of investments highlights a diversified portfolio, with allocations of $316 million in New Pakistan Traditional Certificates, $412 million in New Pakistan Islamic Certificates, and $25 million in the Pakistan Stock Market.
The State Bank of Pakistan’s data reveals that, till the end of October, $1.524 billion has been repatriated, with $4.219 billion utilized locally, resulting in a net repatriable liability of $1.155 billion.
The number of RDAs opened has seen a 1.9% monthly increase, reaching 629,729 accounts.
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Despite October witnessing a net repatriable liability increase of $16 million, the overall positive trend in RDA inflows and investments signifies sustained confidence in this digital financial platform.
The comprehensive data also reflects the substantial impact of RDAs on fostering financial inclusion and facilitating investment avenues for overseas Pakistanis. Roshan Digital Account Brings Record $6.9 Billion Remittances in October is indeed a positive economic sign.
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