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November 29, 2020

Expats lauded for response to ‘Roshan Digital Account’

Peshawar

November 29, 2020

DUBAI: State Bank of Pakistan (SBP) Governor Dr Reza Baqir has lauded the Pakistani expats for their overwhelming response on “Roshan Digital Account” stating that the deposit amount in the accounts touches almost $4 million a day.

Dr Baqir stated that the country’s net foreign exchange reserves have increased by $8 billion since June 2019.He was addressing the Pakistani bankers and financial experts in Dubai in an event organised by JS Bank.

The SBP governor said that the remittances from expats have also been showing upward trend which has led to further improvement in Pakistan’s economy.

Speaking to The News, Dr Baqir said that the “Roshan Digital Account” is also helping to increase the foreign exchange reserves.

“Due to the market-based exchange rate system, Pakistan has been able to resolve the problem of the current account deficit,” he pointed out.

He urged the finance and banking sector experts present at the event to play a greater role in opening “Roshan Digital Account” and to encourage overseas Pakistanis to invest in their homeland via the new venture.

Appreciating the leadership of Prime Minister Imran Khan, the SBP governor stated that the premier took bold steps to strengthen the economy which the previous leaderships were hesitant to take.