https://arab.news/vfxg8
- Pakistani PM shares the ‘good news’ on Twitter
- Program was launched last September to integrate overseas Pakistanis with country's banking system
ISLAMABAD: Pakistan received over $1.5 billion in inflows since September from its Roshan Digital Accounts, a banking initiative launched for overseas Pakistanis last year, Prime Minister Imran Khan said on Sunday, sharing the “good news” by the central bank.
“#RoshanDigitalAccount achieves more milestones. Inflows crossed $1.5 bn on Friday, with investment in Naya [New] Pakistan Certificates surpassing $1 bn,” Khan said in a Twitter post.
PM Khan inaugurated the Roshan Digital Accounts (RDA) service in September as part of a joint effort by the State Bank of Pakistan (SBP), the government, and eight commercial banks to “integrate overseas Pakistanis with the country’s banking system.”
For the first time in Pakistan’s history, the RDA provided Non-Resident Pakistanis (NRPs) with an opportunity to remotely open an account in Pakistan without visiting a bank.
“These accounts provide innovative banking solutions for millions of NRPs, including Non-Resident Pakistan Origin Card [POC] holders, seeking to undertake banking, payment and investment activities in Pakistan,” the SBP said on its website quoting Governor Reza Baqir.
The RDA provides access to all conventional account services, including funds transfer, online bills, e-commerce and other payments in Pakistan.
It also allows users to invest in fixed deposit products offered by the banks, invest in the stock market, with the added advantage of debit and virtual debit cards for domestic and overseas use.