Roshan Digital Account (RDA) is a State Bank of Pakistan’s (SBP) initiative in collaboration with the commercial banks in Pakistan. Prime Minister Imran Khan inaugurated the RDA service on September 10, 2020. Initially, eight commercial banks operating in Pakistan were part of the programme. Later, more banks have joined the initiative to facilitate the overseas Pakistani community.[1] The RDA aims to provide an innovative banking system for millions of Non-Resident Pakistanis (NRPs) seeking to undertake payment, banking and investment in Pakistan for the first time in the history of Pakistan. NRPs are being provided with the opportunity to remotely open a digital account in Pakistan through a digital and online process without the need to visit the bank branch.
According to SBP, the country has received more than US$2 billion foreign exchange inflows through nearly 200,000 digital accounts opened by overseas Pakistanis across 175 countries worldwide since the scheme was introduced.[2] According to SBP Governor, Dr Baqir, overseas Pakistanis have made RDA a big success especially NRPs, in Saudi Arabia and the UAE, who have remitted record money through official channels. Prime Minister Imran Khan has also appreciated the overseas Pakistanis and SBP for their support to improve the country’s foreign exchange inflows.[3]
