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SBP Refutes Reports of Unusual Outflows From RDAs

The State Bank of Pakistan (SBP) has categorically denied misinformation on social media regarding withdrawals from Roshan Digital Accounts (RDAs) by overseas Pakistanis.

It clarificatory tweet read: “SBP rebuts fake news on social media about large withdrawals from Roshan Digital Account and slowdown in inflows. So far in April, inflows are very strong at around $86 million and there are no abnormal outflows. Total inflows have now surpassed $4 billion”.

The foreign exchange inflow through the RDAs was recorded at a total of $3.922 billion alongside the opening of as many as 23,312 new accounts by the end of March.

Pakistan had registered inflows of $290 million last month as compared to $250 million in February – which is more than the average inflows of $253 million during the last six months and depicts a month-on-month increase of $40 million or 16 percent.

Since the launch of the program, 388,494 RDAs have been opened, and the number of accounts opened increased by 6.4 percent on a monthly basis.

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