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Pakistan gets $1.7 billion through RDA till July 12

Dubai - No proposal under consideration of the Federal Government to introduce polymer banknotes.

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Roshan Digital Account (RDA) remained a popular choice for overseas Pakistanis as they use the platform to invest in the country, latest data shows.

“Pakistan received foreign exchange inflows worth $1.7 billion as of July 12, 2021 through RDA,” according to latest data submitted to the upper house of the Parliament on Friday.

Minister of State for Parliamentary Affairs Ali Muhammmad Khan informed the Senate, the upper house, that the country received $1.7 billion foreign exchange through RDA as of July 12.

Roshan Digital Accounts have attracted significant interest from overseas Pakistanis since its launch by the Prime Minister of Pakistan Imran Khan on September 10, 2020. It received a record $310 million in monthly deposits and $233 million in Naya Pakistan Certificates (NPCs) through Roshan Digital Accounts in June.

“As of end-June 2021, $1,050 million has been invested in NPCs, with $621 million in conventional NPCs and $429 million in Islamic NPCs,” said State Bank of Pakistan, the central bank.

“There are 181,556 accounts from 171 countries across the globe have been opened under the RDA programme as non-resident Pakistanis showed interest in investments in Naya Pakistan Certificates and the stock market,” according to the central bank.

Polymer banknotes

Replying a question in the upper house of the Parliament, Ali Muhammmad Khan said there is no proposal under consideration of the Federal Government to introduce polymer banknotes.

“The State Bank of Pakistan, as its role as the sole issuer of banknotes in the country, is constantly evaluating new technologies, including polymer substrate, to improve the security of our banknotes,” the minister said.

— muzaffarrizvi@khaleejtimes.com

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