Inflows of foreign exchange reserves under the Roshan Digital Account (RDA) have crossed a major milestone of $2 billion mark in just over 11 months. “As Pakistanis all over the world celebrated country’s Independence Day, #RoshanDigitalAccount crosses the historical milestone of $2bn in deposits. A big thanks to overseas Pakistanis for their overwhelming response to the RDA initiative”, State Bank of Pakistan (SBP) said on its official twitter account. Last week the Economic Coordination Committee (ECC) of the cabinet approved a subsidy of Rs13.1 billion to support foreign remittances. RDA was also made part of the subsidy. Since its launch in September 2020, inflows under the account have been increasing continuously as in the first month only $7 million were deposited by overseas Pakistanis with 12,947 accounts while the amount jumped to $40 million along with number of accounts that also surged to 28,805 in the next month of October. In July 2021 the number of accounts opened under the scheme reached 199,747. By the end of July 2021, the investment under Naya Pakistan Certificates stood at $763 million in conventional banking while $515 million in Islamic banking. Similarly $18 million were invested in the Stock Exchange.