A new reward scheme has been introduced for overseas Pakistanis to encourage them to send money through banking channels.
Governor State Bank Jamil Ahmed inaugurated the “Pasban Remittance Reward” scheme. Cash prizes of Rs 16 billion will be distributed every year in this program launched under the Pakistan Banks Association.
The scheme will directly benefit Pakistanis who send money to their families or other recipients abroad through regular banking channels. No fee has been fixed for participation.
According to Munir Kamal, Chief Executive of Pakistan Banks Association, the first draw will be held on January 15, 2027. Eligible remittances received between October 1 and December 31, 2026 will be included in this.
The basic condition of the scheme has also been clarified. In a given quarter, the recipient will have to receive at least $100 in his bank account every month for three consecutive months. A digital entry number will be given for every $100. In case of higher amount, the entries will also increase.
There is a plan to give prizes to more than 10,000 people annually. The highest prize has been set at Rs 100 million. This prize will be available to eligible participants from all regions.
Prizes will also be distributed at the regional level. 50% will be allocated for GCC countries, 15% for UK, 15% for Europe, 10% for North America and 10% for other countries.
Jamil Ahmed said that the aim of this program is to encourage remittances to be brought to Pakistan through the formal financial system. According to him, the money sent by Pakistanis abroad is locked
