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Roshan Digital Accounts attract US$2.3b: SBP Governor tells PM Imran Khan

Roshan Digital Accounts attract US$2.3b: SBP Governor tells PM Imran Khan

ISLAMABAD: Governor State Bank of Pakistan (SBP) Reza Baqir Wednesday met Prime Minister Imran Khan and briefed him over the progress being made in terms of Roshan Digital Account and current account.

Reza Baqir during a briefing on Roshan Digital Account (RDA) program said that as many as 204,000 accounts have so far been opened by the overseas Pakistanis under the initiative.

1,000 accounts are being opened on a daily basis, the SBP governor said adding that so far, they have received US$2.3 billion in the accounts.

Prime Minister Imran Khan said that increase in the number of accounts under the RDA program is a sign of confidence from overseas Pakistanis in the incumbent government.

On August 18, it was reported that the Roshan Digital Account (RDA) programme has crossed a major milestone and hit the $2 billion mark as overseas Pakistanis continued to pose trust in the central bank’s initiative that was launched in September last year.

Roshan Digital Account

State Bank of Pakistan (SBP) with the support of eight major banks in the country is leading the project under which Pakistani diaspora are able to avail the banking facility from a digital payment system and the consumers are able to open their bank accounts without visiting bank, embassy or consulate.

Under the initiative, the Pakistanis living abroad are able to operate their accounts without visiting the country and could avail facilities of direct banking, bill payment and other e-commerce facilities.

These accounts could also be used for investments in the stock exchange and property within Pakistan. The consumers would also have the option to either open a Pakistan currency or foreign currency account.