Daily Times

State Bank of Pakistan Governor Dr Reza Baqir says the Roshan Digital Account (RDA) initiative by the government aims at connecting the diaspora to Pakistan financially by facilitating their remittances.

He said this at a webinar by the Pakistan High Commission in London on the RDA.

The webinar was addressed by Dr Baqir, High Commissioner (HC) Moazzam Ahmad Khan and Deputy SBP Governor SBP Dr Murtaza Syed. More than 100 participants, including British MPs, bankers, CEOs, financial experts, businesspersons and diaspora members virtually attended the event and Q&A session. Shehzad Shafiq, Minister Trade moderated the webinar.

About the unique features of the RDA, Dr Baqir said it offers flexibility in regulation without compromising on the standards and allows complete freedom to remit any amount, any time without any permission. He shared with the participants that the State Bank of Pakistan plans to introduce more such initiatives to facilitate the overseas Pakistanis.

HC Moazzam Khan termed the RDA a remarkable initiative of the Government of Pakistan which not only fulfils a long overdue demand of the overseas Pakistanis but it would also go a long way in attracting remittances and investment to Pakistan. He noted that the initiative would integrate the Pakistani diaspora into the Pakistani banking and digital payments system by providing a full range of banking services.

Dr Murtaza Syed, Deputy Governor SBP made a detailed presentation on key features and benefits of Roshan Digital Account. Zulfiqar Khakhar, Head of Pakistan Remittances Initiative also spoke about a wide range of benefits for remitters/beneficiaries under the initiative.