The State Bank of Pakistan (SBP) has reported a robust performance of the Roshan Digital Accounts (RDAs), indicating a significant foreign exchange inflow of $7.195 billion by the end of December 2023.
According to the SBP data, a comprehensive overview of the RDAs revealed that $1.538 billion had been repatriated, while $4.442 billion was utilized locally, resulting in a net repatriable liability of $1.215 billion as of December 31, 2023.
In the month of December alone, funds received through RDAs amounted to $160 million, with $7 million repatriated. The local utilization of funds during the same period stood at $120 million. The net repatriable liability for December was recorded at $34 million.
The data further unveiled that since the launch of RDAs, a total of 651,057 accounts have been opened, signifying a notable 1.6 percent month-on-month increase.
Breaking down the figures for December 2023, the total net investments through RDAs amounted to $816 million. NPC Investments (Conventional) accounted for $331 million, while NPC Investments (Islamic) recorded an impressive $455 million. Roshan Equity Investments contributed $30 million to the overall investment portfolio. The Balances in Accounts were reported at $375 million, accompanied by Other Liabilities totaling $24 million.
The consistent growth and positive trends observed in RDAs highlight their pivotal role in attracting foreign exchange inflows, contributing significantly to the economic landscape of Pakistan. Investors continue to show confidence in the Roshan Digital Accounts, establishing them as a preferred avenue for international transactions and investments.
The sustained growth of Roshan Digital Accounts (RDAs) highlights their crucial contribution to bolstering foreign exchange inflows, thereby playing a significant role in shaping Pakistan’s economic landscape. This success underscores the attractiveness of RDAs to investors, solidifying their confidence in these accounts as a preferred platform for both international transactions and investments. The consistent positive trends witnessed in RDAs reaffirm their pivotal position in fostering financial inclusivity and strengthening the country’s position in the global economic arena. As RDAs continue to gain traction, their impact on Pakistan’s economic growth becomes increasingly evident, further positioning them as a key player in the financial sector.
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