According to the central bank, it has been accounted that the Foreign exchange inflows via Roshan Digital Accounts (RDAs) have reached a total of $2.9 billion by the end of November. The data published by Arif Habib Limited (AHL), one of the largest securities brokerage, investment banking, and research firms in Pakistan the country registered inflows of $239 million in November as compared to $266 million in October.
Pakistan RDA inflows stood at $ 2.9bn as of Nov’21. Monthly inflow during Nov'21 clocked-in at USD 239mn.#PakistanMovingForward #RDA@StateBank_Pak @DigitalPak_GoP @hammad_Azhar @aliya_hamza @MuzzammilAslam3#SBP #Pakistan #Economy #AHL pic.twitter.com/oZwbghPMtH
— Arif Habib Limited (@ArifHabibLtd) December 9, 2021
The report shows that there were 26,265 RDAs opened in November only which takes the total number of registered Roshan Digital Accounts to 299,676. The monthly inflows through RDAs are currently $239 million which shows that the inflows are slightly lesser than those in October this year.
May 2021 was seen as the highest recorded number of accounts opened in one month. However, June 2021 recorded the highest amount of inflows at $310 million. In July 2021, the inflows were at $307 million which were slightly less than that in June.
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The Roshan Digital Accounts have made it convenient for Non-Resident Pakistanis (NRPs) to conveniently open their accounts and operate them from outside the country. Moreover, the taxation process is straightforward, convenient, and hassle-free. Moreover, the RDA’s are also playing a role to reduce the current account deficit.
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