{"id":87700,"date":"2022-08-01T13:01:57","date_gmt":"2022-08-01T08:01:57","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=87700"},"modified":"2022-08-01T13:02:03","modified_gmt":"2022-08-01T08:02:03","slug":"sbp-working-to-expand-rda-product-portfolio","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-working-to-expand-rda-product-portfolio.html","title":{"rendered":"SBP working to expand RDA product portfolio"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) on Friday (July 29) revealed its plan to extend the product portfolio launched under the Roshan Digital Account (RDA) initiative in a bid to cater to the growing demand from the non-resident Pakistanis (NRPs), according to news sources.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/roshan-digital-account-0-4-mn-user.html\" target=\"_blank\" rel=\"noreferrer noopener\">Roshan Digital Account reaches 0.4 mn active user\u00a0<\/a><\/p>\n\n\n\n<p>SBP Senior Joint Director Ali Raza Syed \u2013 while addressing a podcast \u2013 revealed that the central bank is working to further augment<a href=\"https:\/\/www.zameen.com\/news\/psx-pakistans-sharia-trading-platform-nrps.html\" target=\"_blank\" rel=\"noreferrer noopener\"> RDA <\/a>products by launching a complaint management system, insurance products, pension plans and Roshan business account\u2013based on the feedback provided by the NRPs.<\/p>\n\n\n\n<p>Mr Syed also assured that the reports about the large outflows from RDA are misleading and far from reality. He revealed that outflows are linked to the maturity of investments made in Naya Pakistan Certificates (NPCs) which were launched in early 2021. It was highlighted that repatriation of NPC\u2019s funds was a major feature of RDA, and the product was designed around it to boost the public\u2019s confidence. Another reason for RDA outflows was revealed to be the increased inflation, which was said to be making people use their savings for making ends meet.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/rda-highest-single-day-usd-57-mn.html\" target=\"_blank\" rel=\"noreferrer noopener\">Roshan Digital Account posts highest single-day inflow of USD 57 mn<\/a><\/p>\n\n\n\n<p>Moreover, the senior joint director said that the RDA initiative has legal protection under \u2018Foreign Currency Deposit Protection Ordinance 2001\u2019 and it is here to stay.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) on Friday (July 29) revealed its plan to extend the product portfolio launched under the Roshan Digital Account (RDA) initiative in a bid to cater to the growing demand from the non-resident Pakistanis (NRPs), according to news sources. Read: Roshan Digital Account reaches 0.4 mn active user\u00a0 SBP Senior Joint Director Ali Raza Syed \u2013 while addressing a podcast \u2013 revealed that the central bank is working to further augment RDA products by launching a complaint management system, insurance products, pension plans and Roshan business account\u2013based on the feedback provided by the NRPs. Mr Syed also assured that the reports about the large outflows from RDA are misleading and far from reality. He revealed that outflows are linked to the maturity of investments made in Naya Pakistan Certificates (NPCs) which were launched in early 2021. It was highlighted that repatriation of NPC\u2019s funds was a major feature of RDA, and the product was designed around it to boost the public\u2019s confidence. Another reason for RDA outflows was revealed to be the increased inflation, which was said to be making people use their savings for making ends meet. Read: Roshan Digital Account posts highest&hellip;<\/p>\n","protected":false},"author":83,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[37200,53383,21853],"persona":[],"class_list":{"0":"post-87700","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-roshan-digital-accounts","9":"tag-sbp-working-to-expand-rda-product-portfolio","10":"tag-state-bank-of-pakistan-sbp","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP working to expand RDA product portfolio - Zameen News<\/title>\n<meta name=\"description\" content=\"The State Bank of Pakistan (SBP) on Friday (July 29) revealed its plan to extend the product portfolio launched under the Roshan Digital...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-working-to-expand-rda-product-portfolio.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP working to expand RDA product portfolio - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The State Bank of Pakistan (SBP) on Friday (July 29) revealed its plan to extend the product portfolio launched under the Roshan Digital...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-working-to-expand-rda-product-portfolio.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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