State Bank of Pakistan Governor Jameel Ahmad inaugurated the Pasban Remittance Reward Scheme, a banking industry initiative developed under the central bank’s patronage and launched through the Pakistan Banks Association. The scheme will award PKR 16 billion annually to more than 10,000 beneficiaries who receive home remittances through formal banking channels. It is funded entirely by the banking industry and carries no cost to the national exchequer. Beneficiaries must receive at least USD 100 into a bank account in each of three consecutive months within a quarter to qualify. Each USD 100 in eligible remittances generates one nontransferable digital entry, with additional entries awarded proportionately for higher amounts. Quarterly draws will distribute 2,521 prizes totaling PKR 4 billion, including one PKR 100 million first prize, and participation requires no fee, ticket purchase or minimum balance. The first draw is scheduled for Jan. 15, 2027, covering eligible remittances received from Oct. 1 through Dec. 31, 2026. The scheme forms part of a planned shift from government-funded home remittance incentives toward a market-based model, following record workers’ remittances of USD 41.6 billion in fiscal 2026.
2026-09-25State Bank of Pakistan
State Bank of Pakistan unveils industry-funded remittance reward scheme with PKR 16 billion in annual prizes
The State Bank of Pakistan has unveiled an industry-funded scheme offering PKR 16 billion in annual prizes to users of formal home remittance channels. Beneficiaries receiving at least USD 100 in each of three consecutive months can enter quarterly draws, with the first scheduled for Jan. 15, 2027. Participation is free and does not require a minimum balance.