Roshan Digital Accounts

Since the launch of Roshan Digital Account (RDA) initiative by State Bank of Pakistan (SBP), the Pakistani diaspora across the world have shown tremendous response and have opened more than 450,000 accounts from 175 countries with the total value of inflows touching almost USD 5 billion.

However, due to the changing political landscape, we observed some nefarious elements trying to malign certain national level initiatives, including RDA. Although there was no truth in such claims whatsoever, however, it was necessary to present the factual position to avoid any negative impact on the performance of RDA. In order to thwart the malicious propaganda and give some confidence to our valuable non-resident Pakistanis (NRPs), SBP in collaboration with Meezan Bank, HBL, Dubai Islamic Bank and Faysal Bank arranged a mega webinar on August 27, 2022. As these banks are highly proficient in the Islamic Banking concepts and have deep roots in the overall Islamic Banking landscape of the country, the theme majorly focused on the Islamic side of RDA with the title ‘RDA – World Class Banking, the Islamic Way.’

The webinar was graciously joined by Dr. Imran Ashraf Usmani and Allama Shabbir Hasan Maisami, well-known and prominent Islamic Scholars and Dr. Adeel Malik, an expert Economist currently working as an Associate Professor at the University of Oxford. The panel was also joined by Deputy Governor SBP Dr. Murtaza Syed, MD Deposit Protection Corporation Syed Irfan Ali, and the CEOs of the four participating banks. While thanking the NRPS for their contribution, Dr. Murtaza Syed said that we thank the efforts and patriotism of our fellow Pakistanis who have always played their unconditional role in the uplift of the country.

The panelists talked about the real economic scenario of the country and pressed the importance of RDA for NRPs and Pakistan. The webinar also provided an opportunity to SBP and banks to show our commitment towards Islamic Banking and our efforts towards adoption of the concept in the longer run. Our NRPs have been very receptive when it comes to Islamic Banking, and this was our chance to display that RDA’s design specifically deals with these needs. Overall, the event was a success as it was watched by NRPs from all around the world. NRPs asked a variety of questions that were answered by our panelist in live Q&A session. The recorded session can be viewed on Facebook and Youtube.

Please share your questions or feedback related to the Roshan Digital Accounts initiative with SBP at [email protected]

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