PM Imran thanks overseas Pakistanis as RDA funds cross $1billion mark

On Saturday, Prime Minister Imran Khan thanked Pakistani people from outside the United States for the $1 billion in funds raised via the Roshan Digital account (RDA).

PM Imran thanks overseas Pakistanis as RDA funds cross $1billion mark

"I want to thank our Pakistani in the overseas countries for their overwhelming reply."

He also welcomed the efforts of the State Bank of Pakistan and other banks to achieve this "significant achievement in too little time."

It has been stated earlier that the RDA has drawn more than $400 million in foreign currency inflows in the first four months.

The policy was a win-win approach as it provided Pakistanis from abroad with lucrative returns.

On the other side, influxes continued to create foreign reserves in the region.

Reza Baqir, Governor of the State Bank of Pakistan (SBP), said in his remarks at the launch of the RDA services by the Metropolitan Bank Habib on Friday, "The foreign currency inflows through the RDA Initiative gradually gather traction."

To date, approximately 86,000 accounts in Pakistan's banks have been opened by overseas Pakistanis.

"In 97 countries around the world we got more than 480 million dollars from Pakistanis," he said.

The non-resident Pakistanis have spent $327 million in Naya Pakistan Certificates of nearly 483 million dollars issued so far (NPCs).

The RDA is the government's brainchild and SBP is the leader.

It aims to make the diaspora financially linked to Pakistan through its transmission facilitation and will work in partnership with eight of Pakistan's leading commercial banks.

These banks are providing revolutionary banking solutions for millions of NRPs that allow them, through a completely digital and online process, to open an account in any bank without having to visit any bank, embassy, or consulate. The simple facts and paperwork are what they need to do.