Karachi: The State Bank of Pakistan (SBP) on Friday revealed that the Roshan Digital Account (RDA) initiative has succeeded in attracting USD 671 million from over 100,000 account holders, according to news sources.
According to SBP, overseas Pakistanis from over a hundred countries have opened their accounts and made deposits – which is a testament to the fact the RDA initiative is increasing its reach in addition to helping the government overcome Pakistan’s current account deficit.
The RDA was launched by Prime Minister Imran Khan on September 10, 2020. It is a joint initiative between the central bank, the federal government and commercial banks operating in Pakistan.
Initially available at eight commercial banks, RDA has been extended to other banks due to its diversified product portfolio and fields of investment. The initiative offers a higher return on deposits than those in the developed economies to attract more non-resident Pakistanis.
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