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Remittances sent through Roshan Digital Accounts (RDA) by overseas Pakistanis have reached a significant milestone, surpassing $8.416 billion, according to the latest data released by the State Bank of Pakistan (SBP). This achievement underscores the growing confidence of the Pakistani diaspora in the RDA platform.
July 2024 Remittance Performance
In July 2024 alone, overseas Pakistanis transferred $161 million through the RDA, contributing to the overall remittance volume since the program’s inception in September 2020. The cumulative total now stands at $8.416 billion. Although July’s remittance volume slightly decreased compared to June 2024’s $224 million, the consistent inflow reflects that overseas Pakistanis continue to engage with the RDA actively.
Growth in Account Openings
The month of July 2024 also saw a notable increase in new RDA account registrations. A total of 10,820 new accounts were opened, bringing the total number of active Roshan Digital Accounts to 723,598. This rise in account openings indicates a growing interest in the financial opportunities offered by the RDA platform.
Investment Trends
Investment through the RDA has shown substantial growth across various instruments. For instance, overseas Pakistanis have invested $357 million in New Pakistan Certificates, $618 million in New Pakistan Islamic Certificates, and $39 million in Roshan Equity Investments. Furthermore, these figures clearly highlight the diverse investment preferences among the diaspora and their continued trust in the RDA program.
Conclusion
In summary, the steady increase in remittances, new account openings, and investments through Roshan Digital Accounts underscores the program’s success in engaging overseas Pakistanis. As the RDA platform continues to evolve, it remains a crucial conduit for channeling remittances and investments, thereby supporting Pakistan’s economic stability.
