February 25, 2021
Remittances in four months

Remittances in four months via Roshan Digital Accounts hit $400mn

A major initiative of the State Bank of Pakistan, in partnership with commercial banks operating in Pakistan, is the Roshan Digital Account. These accounts provide millions of non-resident Pakistanis (NRPs) seeking to conduct banking, payment, and investment activities in Pakistan with creative banking solutions. The Roshan Digital Account (RDA) is a tailor-made financial solution designed to encourage investment plans in Pakistan-based savings schemes by overseas Pakistanis and is suitable for transactions based on both PKR and USD. In four months, remittances transferred via Roshan Digital Accounts will hit $400 million, the State Bank of Pakistan stated. To date, a total of 80,000 Roshan Digital Accounts have been opened by Pakistanis, the majority of which belong to the Gulf Region, providing the country with 65% of the total remittances. The Roshan Digital Account initiative was launched to provide the overseas Pakistani diaspora with full digital banking solutions without physically visiting branches, offering simple payment and investment facilities in different sectors of Pakistan, including real estate, stocks, etc., so that they can get impeccable services in their native country.

Leave a Comment

Your email address will not be published.