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Roshan Digital Account inflow crosses $8 bln mark

KARACHI: The inflow of remittances under the Roshan Digital Account (RDA) from overseas Pakistanis has crossed $8 billion, ARY News reported on Friday, citing a report from the State Bank of Pakistan (SBP).

According to the SBP, remittances through the RDA reached over $8 billion as of May 24. The RDA program, which started in mid-2020, has grown significantly, with more than 700,000 account holders now participating.

This achievement shows the growing trust and involvement of Pakistanis living abroad in the country’s financial system.

Last month, the inflow of remittances through the RDA in April was 6% lower than the $18.20 billion sent in March. In April, overseas Pakistanis sent $17.10 billion through the RDA, compared to $18.20 billion in March.

Despite this drop, the total number of RDA accounts reached 689,650 by the end of April, with 9,858 new accounts opened that month.

Since its launch in September 2020, the RDA has received a total of $1.58 billion in remittances, and $4.92 billion has been used locally.

The Roshan Digital Account was created by the State Bank to help overseas Pakistanis send money and invest in Pakistan more easily.

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