Analysis and Impact of Foreign Remittance and Roshan Digital Accounts on Pakistan’s Economy - How to Reduce Poverty and Develop Economic Growth through Islamic Banking
Muhammad Faisal Umar,
Qamber Ali,
Salmanuddin Khan,
Bilal Khan Khoso,
Hatim Najmee,
Muhammad Aliyan,
Hammad Arshad,
Talha Asfand Yar,
Saima Liaquat
Issue:
Volume 3, Issue 3, September 2022
Pages:
79-86
Received:
18 September 2022
Accepted:
19 October 2022
Published:
28 October 2022
DOI:
10.11648/j.innov.20220303.12
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Abstract: The purpose of this study is to understand the impact of Foreign Remittance and Roshan Digital Accounts on the Pakistan’s economy and how Roshan Digital Accounts (RDAs) could be used to reduce poverty and initiate a positive economic growth on Pakistan’s economy as far as remittances are considered to be one of major factor in economic growth as more people are willing to send foreign currency and have trade agreements signed due to country stability and economic growth increase chances of trade and reduces crime rate because if foreign currency reserves are more and more investment comes in Pakistan which results in improvement of GDP and increase in job rate so therefore there should be a smooth and trustworthy relationship between foreign investors and country politicians as far as research is concerned. Roshan Digital Accounts are used to increase inflow of cash and investment for foreign Pakistani in order to facilitate them from abroad. If business tie ups are increased, proper control and trust environment builds a positive relationship in country growth and development. Pakistani people living in abroad needs to send their beloved ones including family, friends plus they also want to participate in social welfare causes in form of charity etc. Our study is applied quantitative methodology in which we developed a questionnaire in order to collect data through sampling for this study which aimed to find out the views and opinions of the overseas as well as local residents who are relative to overseas Pakistanis. The findings of this study showed the relationship between RDAs and the economy.
Abstract: The purpose of this study is to understand the impact of Foreign Remittance and Roshan Digital Accounts on the Pakistan’s economy and how Roshan Digital Accounts (RDAs) could be used to reduce poverty and initiate a positive economic growth on Pakistan’s economy as far as remittances are considered to be one of major factor in economic growth as mo...
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