RIYADH
Governor of the State Bank of Pakistan, Dr Reza Baqir on Monday said that Roshan Digital Account (RDA) has proved to be a great success among the Pakistani community in KSA, who have opened the highest number of RDA accounts and sent the second-highest amount of deposits among the 175 countries.
In a joint press statement, State Bank of Pakistan and the Embassy of Pakistan in the Kingdom of Saudi Arabia Baqir expressed gratitude to the Pakistani diaspora in the Kingdom of Saudi Arabia (KSA) for their tremendous support of the State Bank’s Roshan Digital Account initiative.
Governor stated that Roshan Digital Account (RDA) has proved to be a great success among the Pakistani community in KSA, who have opened the highest number of RDA accounts and sent the second-highest amount of deposits among the 175 countries from which Overseas Pakistanis have participated in RDA. He was speaking at an interactive session entitled ‘Roshan Digital Account – an initiative of State Bank of Pakistan’ organized by the Embassy of Pakistan in Riyadh on February 6, 2022.
The event was attended by a large number of Pakistanis residing in the Kingdom, various KSA based Pakistani associations, senior State Bank of Pakistan (SBP) management, and officials from the Embassy of Pakistan.
In his keynote address, Governor Dr Reza Baqir expressed his gratitude to the Ambassador of Pakistan in KSA, His Excellency Lt. Gen (Rtd) Bilal Akbar, for organizing the event to discuss the Roshan Digital Account (RDA) initiative. This landmark initiative provides an opportunity for Overseas Pakistanis to open a bank account and meet their saving and investment needs in Pakistan through a fully digital process. He informed the audience that since the launch of the scheme last September, 345,570 Roshan Digital Accounts have been opened by Overseas Pakistanis and $3.44 billion has been deposited into these accounts.
Ambassador of Pakistan to KSA, His Excellency Lt. Gen (Rtd) Bilal Akbar welcomed the Governor to Riyadh saying despite the challenges posed by the Covid pandemic, remittances from KSA to Pakistan and trade and economic relations between Pakistan and the Kingdom are witnessing an upward trajectory. He appreciated the initiative of RDA and expressed faith that it will not only help Overseas Pakistanis in channelling their income to secure investments but will also provide much needed financial independence to their families in Pakistan.
Earlier, Executive Director, Banking Policy and Regulation Group of the State Bank of Pakistan, Mr Arshad Mehmood Bhatti gave a detailed presentation on Roshan Digital Account and its allied products, including Naya Pakistan Certificates, Roshan Apni Car, and Roshan Samaaji Khidmat. He highlighted the newest product made available through RDA, Roshan Apna Ghar which provides Overseas Pakistanis a very convenient means of buying property in Pakistan through bank financing or their own funds. Representatives of the Pakistani community living in the Kingdom took a keen interest in the RDA and participated enthusiastically in the session.
