KARACHI: Meezan Bank, Pakistan’s leading Islamic bank, has announced that it has received over US $1.5 billion in deposit inflows under the Roshan Digital Account (RDA) initiative.
This was revealed through a statement issued on Friday.
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Launched by the State Bank of Pakistan (SBP) in collaboration with various banks in Pakistan, the RDA aims to provide innovative banking solutions to Non-Resident Pakistanis who are interested in accessing banking and investment services in Pakistan.
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Meezan Bank has actively supported the initiative since its inception in September 2020, with the goal of promoting financial inclusion and contributing to Pakistan’s economic development. With more than 88,000 accounts from 144 countries, the Bank’s record deposit inflows highlight its position as the top performer in the RDA program, with a market share of approximately 25 percent.
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Ijaz Farooq – Group Head Retail Banking, Commercial, SME & Agri Finance, Meezan Bank while commenting on this achievement, said: “As the largest Islamic bank meeting the Shariah-compliant banking needs of Pakistanis residing abroad, Meezan Bank has been steadfast in its support for the RDA initiative and in attracting foreign currency inflows to the country.
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“Today, as we cross the USD 1.5 billion deposit inflows, we express our gratitude to our overseas customers for their continuous patronage and trust in our services.”
