Roshan Digital Accounts (RDA) continued to attract strong interest from overseas Pakistanis in July 2025, with inflows of USD 185 million recorded during the month. The latest data released by the State Bank of Pakistan (SBP) shows that this pushed the total cumulative inflows under the initiative to USD 10.748 billion since its launch. July’s inflows marked a modest increase compared to June, which had recorded USD 182 million, reflecting a month-on-month rise of USD 3 million despite global economic uncertainties and shifting investment trends.
Out of the July inflows, USD 154 million was either repatriated or utilized locally, highlighting the dual role of RDA in supporting both remittance inflows and domestic economic activity. Of this amount, USD 25 million was repatriated abroad, while USD 129 million was deployed locally within Pakistan. The net effect was an increase of USD 31 million in the Net Repatriable Liability (NRL) for the month, showing that a significant portion of deposits remains invested in Pakistan’s financial system rather than being withdrawn.
Cumulative figures further underscore the growing scale of RDA’s impact. Total repatriation and local utilization since inception have reached USD 8.727 billion, with USD 1.836 billion repatriated and USD 6.891 billion utilized within Pakistan. The current Net Repatriable Liability stands at USD 2.022 billion, representing 18.81 percent of the total RDA balance. This liability reflects the funds that remain invested in various RDA-linked products, highlighting continued investor confidence in the scheme.
The breakdown of the NRL indicates where overseas Pakistanis are channeling their investments. USD 479 million is invested in Conventional Naya Pakistan Certificates (NPCs), while Islamic NPCs hold the largest share at USD 936 million. Equity investments stand at USD 75 million, showing relatively limited participation in the stock market through RDA. Additionally, USD 486 million remains as balances in accounts, with another USD 46 million classified under other liabilities. This composition highlights a clear preference for fixed-income instruments, particularly Shariah-compliant ones, while equity markets remain a secondary option for most RDA account holders.
On the participation side, July also witnessed growth in new account openings. A total of 10,619 fresh accounts were registered during the month, bringing the overall number of RDA accounts to 842,582. This steady increase suggests sustained interest among the Pakistani diaspora in leveraging the digital platform for financial engagement with the country.
The program has seen highs and lows since its inception, with the peak monthly inflow recorded in June 2021 at USD 310 million. On the other hand, the highest monthly repatriation and local utilization took place in July 2022, when the NRL reduced by USD 330 million. These variations reflect the influence of global financial conditions, domestic policy shifts, and investor sentiment on the performance of the scheme.
Overall, the July inflows reaffirm RDA’s role as a vital channel for mobilizing foreign exchange, supporting Pakistan’s financial stability, and offering overseas Pakistanis structured investment opportunities. While growth in inflows remains steady rather than exponential, the cumulative numbers illustrate how the initiative has evolved into a reliable source of foreign funding for the country’s economy.