Pakistan crosses $2 billion inflows through digital banking initiative for overseas nationals 

A Pakistani dealer counts US dollars at a currency exchange shop in Karachi on November 30, 2018. (AFP)
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Updated 16 August 2021
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Pakistan crosses $2 billion inflows through digital banking initiative for overseas nationals 

  • PM Khan inaugurated Roshan Digital Accounts service last year as joint effort by central bank and eight commercial banks
  • RDA provides access to all conventional account services, including funds transfer, online bills, e-commerce and other payments

ISLAMABAD: Pakistani foreign excha­nge inflows through Roshan Digital Accounts (RDA), a banking initiative launched for overseas Pakistanis last year, has crossed $2 billion, the central bank said.
Prime Minister Imran Khan inaugurated the RDA service in September as part of a joint effort by the State Bank of Pakistan (SBP), the government, and eight commercial banks to “integrate overseas Pakistanis with the country’s banking system.”
“As Pakistanis all over the world celebrated country’s Independence Day, #RoshanDigitalAccount crosses the historical milestone of $2bn in deposits,” the central bank said on Twitter, thanking overseas Pakistanis for their overwhelming response to the Roshan Digital Accounts initiative.

The RDA provides access to all conventional account services, including funds transfers, online billing, e-commerce and other payments in Pakistan.
For the first time in Pakistan’s history, the RDA provided Non-Resident Pakistanis (NRPs) an opportunity to remotely open an account in Pakistan without visiting a bank. It also allows users to invest in the stock market and fixed deposit products offered by banks, with the added advantage of debit and virtual debit cards for domestic and overseas use.
“These accounts provide innovative banking solutions for millions of NRPs, including Non-Resident Pakistan Origin Card [POC] holders, seeking to undertake banking, payment and investment activities in Pakistan,” the SBP says on its website, quoting Governor Reza Baqir.


Islamabad court sentences seven individuals to life imprisonment over ‘digital terrorism’

Updated 37 min 54 sec ago
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Islamabad court sentences seven individuals to life imprisonment over ‘digital terrorism’

  • The convicts include Wajahat Saeed Khan, Shaheen Sehbai, Haider Raza Mehdi, Adil Raja, Moeed Peerzada, Akbar Hussain and Sabir Shakir
  • The cases against them relate to May 9, 2023 riots over ex-PM Imran Khan’s arrest that saw vandalization of government, military installations

ISLAMABAD: An Islamabad anti-terrorism court (ATC) on Friday awarded two life sentences each to seven individuals, including journalists and YouTubers, over “digital terrorism,” in connection with May 9, 2023 riot cases.

The court sentenced Wajahat Saeed Khan, Shaheen Sehbai, Haider Raza Mehdi, Adil Raja, Moeed Peerzada, Akbar Hussain and Sabir Shakir under various sections of the Anti-Terrorism Act and the Pakistan Penal Code.

The riots had erupted after former prime minister Imran Khan was briefly arrested in Islamabad on corruption charges on May 9, 2023, with his supporters attacking government buildings and military installations in several cities.

ATC judge Tahir Sipra announced the reserved verdict, following a trial in absentia of the above-mentioned individuals who were accused of “digital terrorism against the state on May 9.”

“The punishment awarded will be subject to the confirmation by Hon’ble Islamabad High Court,” the verdict read, referring to each count of punishment awarded to the convicts.

It also imposed multiple fined on the convicted journalists and YouTubers, who many see as being closed to Khan.

The prosecution presented 24 witnesses, while the court had appointed Gulfam Goraya as the counsel of the accused, most of whom happen to be outside Pakistan.

Pakistan’s anti-terrorism laws allow trials in absentia of the accused persons.

Thousands of supporters of Khan’s Pakistan Tehreek-e-Insaf (PTI) party were detained in the days that followed the May 2023 riots and hundreds were charged under anti-terrorism laws in a sweeping crackdown, with several cases transferred to military courts.

The government of PM Shehbaz Sharif accuses Khan’s party of staging violent protests in a bid to incite mutiny in the armed forces and to derail democracy in the country. The PTI denies inciting supporters to violence and says the government used the May 2023 protests as a pretext to victimize the party, a claim denied by the government.

The May 2023 riots took place a little over a year after Khan fell out with Pakistan’s powerful military, blaming the institution for colluding with his rivals to oust him from office in a parliamentary no-trust vote, a charge denied by the military.

Khan, who has been jailed since Aug. 2023 on a slew of charges, has led a campaign of unprecedented defiance against the country’s powerful military. He also accuses the then generals of rigging the Feb. 8, 2024 election in collusion with the election commission and his political rivals to keep him from returning to power. The military, election commission and Khan’s rivals deny the allegation.