With the overwhelming success of Roshan Digital Account (RDA) which attracted over $4.6 billion in inflows through 429,364 accounts, the State Bank of Pakistan (SBP) is planning to introduce Roshan Business Account and various schemes including insurance products, and pension plans for overseas Pakistanis and their relatives.
This was stated by Syed Ali Raza, Joint Director at SBP in the sixth episode of the SBP Podcast Series “Debunking Apprehension About Roshan Digital Accounts.
The SBP also indicated setting up a compliant center to address the issues of expatriate Pakistanis in using Roshan Digital Accounts and its related products.
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Besides, as many as 1,550 cars of different brands were delivered to relatives of overseas Pakistanis in different cities of Pakistan with a total value of Rs. 8 billion through the Roshan Apni Car scheme.
Raza refuted the rumors about massive outflows of the foreign exchange through Roshan Digital Accounts saying that the misinformation is a conspiracy to hurt the confidence of Pakistanis in RDA.
The RDA scheme is protected under Foreign Currency Deposit Protection 2001.
He added that an amount of $800 million was sent back to overseas Pakistanis on account of the profit redemption to certificate holders from Pakistan in the past 23 months.
He added that the SBP in consultation with the government is reviewing the profit rate of the Naya Pakistan Certificates which will likely be made public in the coming months.
