As of August 2024, Pakistan has received a total of $8.581 billion in gross inflows through the Roshan Digital Account (RDA), according to data from the State Bank of Pakistan (SBP) released on Wednesday.
Inflows through RDAs saw a modest rise, reaching $165 million in August, up from $161 million in the previous month. The primary goal of RDAs is to attract foreign currency deposits, providing a stable funding source for the country. These inflows help bolster foreign exchange reserves and support foreign debt repayments, contributing to the strengthening of the Pakistani rupee against the U.S. dollar.
By September 6, the SBP’s foreign exchange reserves had reached $9.47 billion. Of the total $8.581 billion received between September 2020 and August 2024, $1.646 billion has been repatriated, while $5.441 billion has been utilized within the country. As a result, net repatriable liabilities stood at $1.494 billion.
Through RDAs, non-resident Pakistanis can conveniently open bank accounts in Pakistan from anywhere in the world. These accounts allow them to send investments and remittances in both international and local currencies. Once the account is approved, users can invest in both conventional and Islamic Naya Pakistan Certificates, which are government-issued. Additionally, RDAs provide access to Islamic savings and term products offered by banks, as well as the local stock market.
SBP data shows that between September 2020 and August 2024, net investments through RDAs amounted to $1.495 billion. Of this, $370 million was invested in conventional Naya Pakistan Certificates, while $638 million was directed toward Islamic NPCs. Furthermore, $33 million was invested in the stock market, and other liabilities accounted for $32 million. Net repatriable liabilities totaled $1.495 billion, with the account balance standing at $412 million.