Inflows under Roshan Digital Accounts (RDAs) — a banking facility reserved for non-resident Pakistanis — clocked in at $146 million in October, a decline of 13.1 per cent compared to last month’s $168m and the lowest since December 2020, according to data shared by the State Bank of Pakistan (SBP).
In December 2020, inflows had amounted to $140m.
Meanwhile, 13,850 new accounts were opened in October, taking the total to 485,873.
Total RDA inflows have reached $5.295 billion since the launch in September 2020.
According to SBP data, $3.344bn or 63pc of this amount has been invested in Naya Pakistan Certificates (NPCs) — $1.722bn through conventional means and $1.622bn through Islamic mode of financing for the same certificates.
Only 1pc of the total amount, or $46m, has been invested in the Pakistan Stock Exchange.
The RDA is a flagship initiative of the State Bank aimed at connecting overseas Pakistanis with Pakistan’s banking and payment system.
SBP Governor Jameel Ahmad shared last week that non-resident Pakistanis from 175 countries had opened RDAs. “However, investments via RDAs into the stock exchange have been relatively subdued,” he said, adding that the formal launch of the Roshan Equity Investment, a product offered under the RDA umbrella, is expected to spur investment in the equity market through a fully digitised process.
