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The State Bank of Pakistan announced the market-based Pasban Remittance Reward Scheme under the auspices of the Pakistan Banks Association with full funding from the banking sector and no cost to the national exchequer. SBP Governor Jameel Ahmad inaugurated the initiative at an event in Karachi where he highlighted how remittances have grown from $38.3 billion in fiscal year 2025 to $41.6 billion the next year with projections reaching $44 billion in the current fiscal year. The central bank described the programme as a sustainable way to recognise overseas Pakistanis who route money through authorised channels while supporting broader efforts to strengthen external accounts.
Eligibility under the scheme requires a beneficiary to receive remittances equivalent to at least $100 per month for three consecutive months in a quarter paid directly into a bank account in Pakistan according to the SBP statement. Each $100 increment earns one digital non-transferable entry with higher amounts generating proportional tickets the central bank explained. Banks cannot charge any fees require ticket purchases or impose minimum balances for participation the announcement added.
Quarterly draws will award 2,521 cash prizes totalling Rs4 billion the SBP outlined in its September 25 press release. The 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. This quarterly distribution scales to more than 10,000 winners sharing Rs16 billion annually with all selections conducted through a secure digital and auditable process.
Prize allocation will follow regional remittance patterns with 50 per cent assigned to the GCC 15 per cent to the United Kingdom 15 per cent to Europe 10 per cent to North America and 10 per cent to other countries the central bank figures show. The top prize remains open to eligible beneficiaries from all regions. Such distribution acknowledges the significant contribution of Pakistani workers in Gulf states that have long formed a major part of total inflows according to SBP data.
The inaugural draw is scheduled for January 15 2027 and will cover remittances received from October 1 to December 31 2026 the SBP statement specified. Governor Jameel Ahmad positioned the scheme as recognition of overseas Pakistanis’ economic role while expressing confidence in continued growth of formal channels. The initiative follows the phasing out of earlier programmes such as the points-based Sohni Dharti Remittance Program that allowed redemption for public services.
Pakistan Banks Association representatives joined the launch as the industry commits to sustaining the reward pool without government support the central bank reported. Remittances have become a key buffer for the economy in recent years with the new cash incentive aimed at maintaining upward trends observed in official statistics. The SBP will oversee implementation to ensure transparency and broad participation across qualifying transactions.
