ISLAMABAD: Inflow through Roshan Digital Account has crossed 6.6 billion dollars by August-end, the State Bank of Pakistan (SBP) said on Tuesday.
SBP said that the total number of RDA accounts opened reached 606,865 from 596,268 a month ago in July-end.
As per the latest data available on the central bank’s website, the cumulative RDA inflow clocked in at 6.617 billion dollars by the end of the last month, out of which 1.484 billion dollars has so far been repatriated, while funds to the tune of 4.006 billion dollars have been utilized locally.
This means total net repatriable liability stands at 1.127 dollars billion as of August-end.
Out of the total outstanding liability, an amount of 715 million dollars is with Naya Pakistan Certificates, with 320 million dollars in conventional NPCs and 395 million dollars in Islamic instruments.
Likewise, an amount of 375 million dollars is balanced in accounts, SBP said.
On the other side, Roshan Equity Investments declined further and stood at a meager 18 million dollars.
RDA is a significant source of foreign exchange inflows for cash-starved country. The initiative was launched in September 2020 by the central bank and offers up to 8 per cent profit on US dollar investments.
SBP’s Bid to Attract Remittance Inflows
Earlier, SBP in its bid to attract further remittance inflows announced the launch of Diamond Category in the Sohni Dharti Remittance Programme.
Effective from 22 September 2023, a new ‘Diamond’ category has been added in the Sohni Dharti Remittance Programme. The new category is in addition to existing 3 categories namely, ‘Green’, ‘Gold’ and ‘Platinum’.
