RDA records highest-ever daily remittances received by overseas Pakistanis: SBP
KARACHI: The State Bank of Pakistan (SBP) recorded the Roshan Digital Account (RDA) receiving a total amount of $7.7 million – the highest daily remittances by overseas Pakistanis.
The total inward remittances received under RDA reached $139.4 million, with $81 million invested in Naya Pakistan Certificates (NPCs), the central bank reported.
The NPC is an initiative of the Ministry of Finance, administered by the SBP, offering incredible investment opportunities to overseas Pakistanis, which can only be purchased through RDAs.
Earlier, in collaboration with the Government of Pakistan (GoP), the State Bank of Pakistan (SBP) unveiled Roshan Digital Accounts- a digital banking solution that offers overseas Pakistanis ease of payment including fund transfers, bill payments and investment facilities in various sectors of Pakistan, including real estate, stocks, etc. to so that they can avail better services in their homeland.
RDA allows users to choose any foreign currency or rupee-denominated account. Also, in case an investor wants to withdraw the available funds, RDA allows them to repatriate funds up to the lowest present amount.
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