SBP Launches Webpage to Disseminate Updated Roshan Digital Account Data – Businesses
Published on July 03, 2021 23:36
Since its launch, the Roshan digital account has generated considerable interest from overseas Pakistanis
KARACHI (Dunya News) – The State Bank of Pakistan on Saturday began publishing regular data on the progress of the Roshan Digital Account (RDA) which shows a deposit of US $ 1.562 billion on 181,556 accounts opened in 171 countries.
According to a statement posted here, the SBP, in line with its commitment to transparency of key policy measures, has started publishing data based on the individual reports of banks participating in the RDA. The data was consolidated and made available to the public via a new web page which would be updated on a monthly basis.
Since its launch by the Pakistani Prime Minister on September 10, 2020, the Roshan digital account has received a lot of interest from overseas Pakistanis, while market players have also requested a periodic update in this regard.
According to the recently launched webpage, 181,556 accounts have been opened in 171 countries around the world and $ 1.562 billion has been deposited into these accounts until the end of June 2021.
The webpage shows the monthly trends in the number of opened accounts, deposits and investments in Naya Pakistan Certificates (NPCs) and the stock market. The data shows an accelerating trend in all of these dimensions over the past few months.
June 2021 saw the highest monthly deposit amount – $ 310 million – and NPC investment – $ 233 million – since the launch of the Roshan digital account. By the end of June 2021, $ 1,050 million had been invested in NPCs, including $ 621 million in conventional NPCs and $ 429 million in Islamic NPCs.
The Roshan Digital Account is a landmark initiative that seamlessly connects Pakistani diasporas to the Pakistani financial system and economy, SBP said adding that for the first time, it allowed overseas Pakistanis to open an account. banking in Pakistan in a fully digital way, without having to visit any bank branch or embassy.
The SBP further stated that the account allows overseas Pakistanis to perform all kinds of banking operations in Pakistan, including paying school bills and utilities for their families, transferring funds , e-commerce, auto finance through Roshan Apni Car and charitable donation through Roshan Samaaji. Khidmat.
At the same time, the account offers exclusive investment opportunities in Naya Pakistan certificates offering attractive yields in conventional and Shariah compliant forms, as well as in Pakistan stock market and real estate.
The SBP further stated that the tax treatment is straightforward, freeing overseas Pakistanis from the need to file Pakistan income tax return on income from investments through the account. It is important to note that the account is fully repatriable, which gives overseas Pakistanis the comfort of being able to return the money from their account to where they live without any difficulty.
The webpage with regular data on the progress of the Roshan Digital Account (RDA) can be accessed at https://www.sbp.org.pk/RDA/Progress.html.