State Bank of Pakistan launches Rs. 16 billion remittance reward scheme

The State Bank of Pakistan (SBP) has launched the ‘Pasban Remittance Reward Scheme’ to encourage overseas Pakistanis to use formal banking channels for sending money home. Developed in cooperation with the Pakistan Banks’ Association, the initiative features an annual prize pool of Rs. 16 billion, which will be funded entirely by the banking industry without any cost to the national treasury.

Under the scheme, quarterly draws will distribute 2,521 cash prizes totaling Rs. 4 billion. The prize structure includes a single first prize of Rs. 100 million, 20 second prizes of Rs. 25 million each, 100 third prizes of Rs. 10 million each, and 2,400 fourth prizes of Rs. 1 million each. To qualify, a beneficiary must receive at least US$100 per month through formal channels for three consecutive months within a quarter. Each US$100 received generates one digital entry.

Prizes are allocated by region: 50 percent for GCC countries, 15 percent for the UK, 15 percent for Europe, 10 percent for North America, and 10 percent for other regions. The first draw is scheduled for January 15, 2027, covering remittances sent between October 1, 2026, and December 31, 2026.