- September 28, 2026
- Posted by: Tresmark
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The State Bank of Pakistan (SBP) has launched the Pasban Remittance Reward Scheme, offering Rs16 billion in annual cash prizes to customers receiving overseas remittances through formal banking channels.
SBP Governor Jameel Ahmad inaugurated the scheme on Friday. The initiative is being funded entirely by the banking industry through the Pakistan Banks Association (PBA), with no cost to the national exchequer.
Under the scheme, beneficiaries receiving home remittances worth at least $100 per month for three consecutive months during a quarter will qualify for digital entries in the prize draw. Higher remittance amounts will generate additional entries based on the value received.
A total of 2,521 prizes worth Rs4 billion will be distributed every quarter. The prize structure includes one first prize of Rs100 million, 20 second prizes of Rs25 million each, 100 third prizes of Rs10 million each and 2,400 fourth prizes of Rs1 million each.
The first draw is scheduled for January 15, 2027, covering eligible remittances received between October 1 and December 31, 2026. Draws will be conducted through a digital and auditable process.
To distribute prizes across major remittance corridors, 50% of the allocation will be reserved for the GCC, 15% for the UK, 15% for Europe, 10% for North America and 10% for other regions. The first prize will remain open to beneficiaries from all regions.
Participation is free, with no ticket purchase, fee, minimum account balance or other payment required from eligible beneficiaries.
The scheme represents a shift towards a more market-based approach to promoting formal remittance channels. The banking industry has also been funding a separate remitter incentive since July 2026, taking its annual commitment towards remittance support to nearly Rs100 billion.
The launch comes as Pakistan's external position has strengthened, with workers' remittances reaching a record $41.6 billion in FY26, compared with $21.7 billion in FY19. SBP foreign exchange reserves have also risen to around $21.4 billion, according to the figures cited at the launch.
SBP said the Pasban scheme is intended to encourage overseas Pakistanis to continue using formal banking channels while supporting the country's foreign exchange inflows and external sector stability.
