ISLAMABAD – The State Bank of Pakistan has dismissed the reports of hefty withdrawals from Roshan Digital Accounts (RDAs) by overseas Pakistanis and a sudden fall in Pakistan Foreign Exchange Reserves.
SBP issued the clarification as many social media users claimed that overseas Pakistanis are withdrawing their investments from Roshan Digital Accounts following Imran Khan’s ouster.
“SBP rebuts fake news on social media about large withdrawals from Roshan Digital Accounts and slowdown in inflows,” a statement issued by Central Bank said.
#SBP rebuts fake news on social media about large withdrawals from #RoshanDigitalAccount and slowdown in inflows. So far in April, inflows are very strong at around $86 mn & there are no abnormal outflows. Total inflows have now surpassed $4bn.
— SBP (@StateBank_Pak) April 11, 2022
The tweet also added, “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 whole thing started when several PTI activists protest at an overseas Pakistanis rally near Hyde Park. “No Imran, No remittances,” PTI supporters chanted, saying they don’t want their money to end up in the accounts of ‘corrupt leaders’.
PM Imran introduces ‘Roshan Digital Account’ for overseas Pakistanis
Earlier this month, State Bank reported that Roshan Digital Accounts, a banking facility available to Non-resident Pakistanis, has raised inflows amounting to $3.9 billion by the end of March 2022, with over two-thirds of the amount being invested in Naya Pakistan Certificates (NPC).
