July 2024 Remittances Fall to $161M Roshan Accounts Rise
The data showed that the inflows of remittances during July were recorded at US$ 161 million as compared to US$ 200 million in June 2024.
These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment, and investment activities in Pakistan.
The number of accounts registered under the program also rose by 10,820 to 723,598 in July 2024 from 712,778 accounts in June 2024.
The Roshan Digital Account was introduced by the State Bank to facilitate overseas Pakistanis in sending remittances and investing in Pakistan.
It is pertinent to mention here that in September 2020, former prime minister Imran Khan launched the Roshan Digital Account project aimed at providing digital banking facilities to overseas Pakistanis for the first time in the country.
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