Roshan Digital Account is an initiative launched by the Government of Pakistan in September 2020 to provide a secure and hassle-free banking solution to overseas Pakistanis. The aim of this digital account is to facilitate non-resident Pakistanis (NRPs) to remotely access banking services and invest in the country’s economy through a single platform. This initiative is a part of the government’s broader effort to increase foreign remittances, promote digitalization, and attract foreign investment. The Roshan Digital Account provides NRPs with an easy and efficient way to manage their finances, transfer funds, and invest in various financial products, including stocks, bonds, and property. The digital account can be opened and managed remotely, providing NRPs with convenience and flexibility. The Roshan Digital Account has gained significant traction among NRPs, with thousands of accounts opened since its launch.
The data(source SBP) contains information on the number of accounts opened and funds received through Roshan Digital Account on a monthly basis, with separate columns for funds received in Naya Pakistan Certificate (NPC) Conventional and Islamic.
| Month/Period | Number of Accounts Opened | Total Accounts Opened | Funds Received in Million USD | RDA Total Amount Received in Million USD | NPC Amount Conventional Million USD | NPC Amount Islamic Million USD |
| Feb-23 | 11,854 | 536,676 | 125 | 5,811 | 33 | 53 |
| Jan-23 | 13,663 | 524,822 | 110 | 5,686 | 28 | 44 |
| Dec-22 | 12,225 | 511,159 | 140 | 5,576 | 22 | 45 |
| Nov-22 | 13,061 | 498,934 | 141 | 5,436 | 28 | 58 |
| Oct-22 | 13,850 | 485,873 | 146 | 5,295 | 31 | 51 |
| Sep-22 | 15,291 | 472,023 | 168 | 5,149 | 24 | 53 |
| Aug-22 | 15,388 | 456,732 | 187 | 4,981 | 32 | 64 |
| Jul-22 | 11,980 | 441,344 | 188 | 4,794 | 44 | 58 |
| Jun-22 | 12,527 | 429,364 | 250 | 4,606 | 98 | 50 |
| May-22 | 13,087 | 416,837 | 189 | 4,356 | 29 | 57 |
| Apr-22 | 15,256 | 403,750 | 245 | 4,167 | 43 | 61 |
| Mar-22 | 23,312 | 388,494 | 290 | 3,922 | 69 | 86 |
| Feb-22 | 22,571 | 365,182 | 250 | 3,632 | 74 | 101 |
| Jan-22 | 20,148 | 342,611 | 222 | 3,382 | 86 | 84 |
| Dec-21 | 22,787 | 322,463 | 244 | 3,160 | 69 | 89 |
| Nov-21 | 26,265 | 299,676 | 239 | 2,916 | 71 | 86 |
| Oct-21 | 24,688 | 273,411 | 266 | 2,677 | 90 | 84 |
| Sep-21 | 27,917 | 248,723 | 297 | 2,411 | 93 | 92 |
| Aug-21 | 21,059 | 220,806 | 245 | 2,114 | 106 | 91 |
| Jul-21 | 18,191 | 199,747 | 307 | 1,869 | 142 | 86 |
| Jun-21 | 25,482 | 181,556 | 310 | 1,562 | 156 | 77 |
| May-21 | 31,137 | 156,074 | 197 | 1,252 | 86 | 56 |
| Apr-21 | 14,715 | 124,937 | 249 | 1,055 | 97 | 64 |
| Mar-21 | 16,010 | 110,222 | 226 | 806 | 81 | 62 |
| Feb-21 | 13,673 | 94,212 | 169 | 580 | 59 | 50 |
| Jan-21 | 15,498 | 80,539 | 161 | 411 | 55 | 54 |
| Dec-20 | 17,753 | 65,041 | 140 | 250 | 51 | 42 |
| Nov-20 | 18,483 | 47,288 | 70 | 110 | 18 | 22 |
| Oct-20 | 15,858 | 28,805 | 33 | 40 | 16 | 0 |
| Sep-20 | 12,947 | 12,947 | 7 | 7 | 2 | 0 |
Upon analyzing the data, a few key findings can be observed. Firstly, the number of accounts opened seems to fluctuate from month to month, with a range of 11,854 to 31,137 accounts opened. Secondly, the funds received also vary significantly, ranging from a low of $700 in September 2020 to a high of $31,000 in June 2021. Lastly, it is noteworthy that there is a significant difference in funds received between the NPC Conventional and NPC Islamic categories, with the former consistently receiving higher amounts throughout the months. Further analysis could be done to investigate the reasons behind these fluctuations and differences, and to identify any patterns or trends that could provide insights for the financial institution’s strategy going forward.
If we take a look on monthly data of Roshan Digital Account, it reveals some interesting findings. One key finding is that there has been a consistent increase in the number of accounts opened over the past two years. However the trend seems reversed after March 2022. It is worth mentioning that the PDM govt had taken the charge on April,10th 2022. Hence we may also take a look into Post Imran Khan Era.
Another notable trend is the overall increase in funds received through Roshan Digital Account, with occasional dips in certain months. The data also shows a preference for conventional banking over Islamic banking, with higher amounts of funds being received in the former for Naya Pakistan Certificates. Overall, the dataset paints a positive picture for Roshan Digital Account, with a growing number of customers and increasing amounts of funds being transferred through the platform.
Impact on Roshan Digital Account Post Imran Khan Era
In terms of the trend in funds transfer, there has been a general decline in funds received after April 2022. This decline can be seen across all categories, including NPC conventional and Islamic. Specifically, the data shows that there was a peak in funds received in June 2022, after which there has been a gradual decline. This decline can be attributed to various factors, including changes in market conditions and fluctuations in customer behavior.
Regarding the trend in account opening, there has been a consistent decline in the number of accounts opened after April 2022. The peak was observed in September 2021, and since then, the number of accounts opened has steadily declined. This decline in account opening can be attributed to a number of factors, including changes in customer preferences and increased competition in the market.
In conclusion, based on the post Imran Era data, it is clear that there have been several key trends and changes in the market. These trends include a decline in funds received, a decline in account opening, and a decline in both NPC Islamic and conventional categories. As the market continues to evolve, it will be important to closely monitor these trends and make necessary adjustments to stay competitive.
Comparison of 11 Month Performance of PDM and PTI era on Roshan Digital Account.
Overall, the analysis/comparison provides some insight into the financial activities and performance of the two governments regarding Roshan Digital Account, but it is important to keep in mind that these numbers represent only a limited view of the situation and do not necessarily tell the whole story.
In terms of accounts opened, the PTI government has an average of 24,024.50 accounts opened, while the PDM government has an average of 13,471.09 accounts opened. This suggests that more people have chosen to open accounts with the PTI government, which could indicate that they have more trust in that government to manage their finances or that the PTI government has put in place more policies or initiatives to encourage people to open accounts with them.
In terms of funds received, the PTI government has an average of 25,770.00 USD received in 10,000 USD increments, while the PDM government has an average of 17,172.73 USD received in 10,000 USD increments. This suggests that more people are investing money with the PTI government, perhaps because they have more faith in the government’s ability to manage their investments or because the government has created more attractive investment opportunities.
Table showing the RDA Performance of 11 Months of PTI and PDM Govt
| PDM Govt Average | PTI Govt Average | PDM Govt SUM | PTI Govt SUM | |
| Number of Accounts Opened | 13,471.09 | 24,024.50 | 161,653.09 | 254,960.00 |
| Funds Received in 10,000 USD | 17,172.73 | 25,770.00 | 206,072.73 | 282,600.00 |
| NPC Amount Conventional 10,000 USD | 3,745.45 | 9,730.00 | 44,945.45 | 107,000.00 |
| NPC Amount Islamic 10,000 USD | 5,400.00 | 8,460.00 | 64,800.00 | 91,000.00 |
In the table above, the “NPC Amount Conventional 10,000 USD” and “NPC Amount Islamic 10,000 USD” columns refer to the total amount of investment received by the respective governments in the form of Naya Pakistan Certificate in these two categories from overseas Pakistanis in increments of $10,000 USD.
Despite both governments receiving investments through the Naya Pakistan Certificates scheme from overseas Pakistanis, there is a notable difference in the total amount of investment received. Specifically, the PDM government received a total of $449.45M in conventional NPC investments and $648M in Islamic NPC investments, whereas the PTI government received a total of $1,070M in conventional NPC investments and $910M in Islamic NPC investments. As a result, it can be inferred from the table that the PTI government was able to attract more investment from overseas Pakistanis through the Naya Pakistan Certificates scheme, compared to the PDM government.
This could indicate that overseas Pakistanis have more trust in the economic policies of the PTI government, or that the PTI government has been more successful in promoting the Naya Pakistan Certificates program to attract investment from overseas Pakistanis.
You might be more interested in reading in How to open Roshan Digital Account (RDA) – EcoFiney and How to Invest in Stock Market through Roshan Digital Account – EcoFiney
