Health and Life Insurance On the Cards Under RDA: Baqir

Health and Life Insurance On the Cards Under RDA: Baqir in 2022

Reza Baqir, Governor of the State Bank of Pakistan, hinted at the introduction of health and life insurance for relatives of overseas Pakistanis, allowing them to access these services through the Roshan Digital Account.

In a video message to the audience, he stated that the number of services for overseas Pakistanis and their relatives to use Roshan Digital Accounts and its various features would be increasing.

Roshan Digital Account was created to make it easier for overseas Pakistanis to send remittances to their family members. In less than a year, the account has introduced many services, including auto and home financing, investment opportunities on the Pakistan Stock Exchange (PSX), and government bonds and securities.

Reza Baqir thanked overseas Pakistanis for their enthusiastic response to Roshan Digital Accounts and its features.

In one and a half years, over $4 billion has been received under RDA from 4 million account holders from 175 countries.

Baqir refuted social media rumors that RDA experienced a $1-2 billion outflow.

RDA Receives Highest Monthly Inflows of $290 Million In March

In March 2022, the cumulative monthly inflows of remittances into Roshan Digital Accounts reached an all-time high of $290 million.

The governor reiterated that the RDA initiative would continue to provide various facilities to overseas Pakistanis, including new features, products, and commercial banks.

He went on to say that the Roshan Digital Account is the most convenient way for Pakistanis living abroad to conduct banking and investment transactions.

He concluded that RDA is a project of the State Bank of Pakistan (SBP) in collaboration with commercial banks.

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