Roshan Digital Account inflows surpass $6bn in April
Business
Most of the investment was made in Naya Pakistan Certificates
KARACHI (Web Desk) - Roshan Digital Account (RDA) inflows have crossed $6 billion for the first time since its launch, the State Bank of Pakistan (SBP) data shows.
Cumulatively, RDA inflows jumped by $136 million during April 2023. Since its launch, overall investment in the RDA rose to $6.102bn at the end of April 2023 compared to $5.966bn in March 2023.
Most of the investment was made in Naya Pakistan Certificates (NPCs) and overall investment in NPCs surged to $3.815bn at the end of April 2023. During the period under review, some $1.894bn invested in conventional NPCs and an amount of $1.921bn was invested in Islamic NPCs. Investment in stock market stood at $50 million.
On Month-on-month basis, RDA inflows decreased by 12 percent as inflows in March 2023 $155 compared to $136 million in April 2023.
Overseas Pakistanis have so far opened some 561,617 accounts under the RDA, the SBP data reveals.
Through the RDA for the first time in Pakistan’s history, NRPs are being provided an opportunity to remotely open an account in Pakistan through an entirely digital and online process without any need to visit a bank branch.
