The State Bank of Pakistan (SBP) has introduced the Pasban Remittance Reward Scheme, under which customers receiving home remittances through formal banking channels can win cash prizes worth Rs. 16 billion annually.
The scheme will award Rs. 1 million to 2,400 winners in each quarterly draw. This means 9,600 beneficiaries can receive the Rs. 1 million prize over the course of a year.
SBP Governor Jameel Ahmad formally launched the scheme, which replaces the Sohni Dharti Scheme with a reward-based model designed to encourage overseas Pakistanis to send remittances through formal channels.
To qualify, beneficiaries must receive remittances equivalent to at least $100 per month for three consecutive months during a quarter.
Eligible recipients will be issued digital entry numbers based on the amount of remittances they receive. A monthly remittance of $100 will qualify for one entry, while higher amounts will generate additional entries.
The scheme will distribute 2,521 cash prizes worth a total of Rs. 4 billion in every quarterly draw.
| Prize | Number of Prizes | Amount |
|---|---|---|
| First | 1 | Rs. 100 million |
| Second | 20 | Rs. 25 million each |
| Third | 100 | Rs. 10 million each |
| Fourth | 2,400 | Rs. 1 million each |
Speaking at the launch ceremony, Governor Jameel Ahmad said SBP, the government, and the Pakistan Banks Association (PBA) had worked together over recent months to develop a self-sustaining and market-oriented remittance scheme.
He said the objective is to continue facilitating and encouraging overseas Pakistanis to use formal channels for sending workers’ remittances.
According to the governor, remittances remain critical for millions of Pakistani families, helping them cover household expenses while supporting education, healthcare, investment, and other economic opportunities.
Jameel Ahmad also highlighted the improvement in Pakistan’s external account position. He said the external current account deficit has been brought down to manageable levels, allowing the country to build its foreign exchange buffers.
SBP’s foreign exchange reserves, which had fallen below $3 billion in February 2023, have now risen to $21.4 billion.
The governor said the recent buildup in foreign exchange buffers has primarily been supported by SBP’s purchases from the market rather than increased external borrowing.
He also credited overseas Pakistanis for their contribution, noting that workers’ remittances reached a record $41.6 billion in FY26, compared with $21.7 billion in FY19.
He said the increase in reserves and remittances reflects greater stability in Pakistan’s external sector and could help the economy move away from recurring boom-and-bust cycles.
The governor noted that the government and SBP have introduced several reforms and policy measures to support this improvement.
He also highlighted the evolution of home remittance incentive schemes, saying these initiatives helped expand formal channels, bring more financial institutions into the remittance ecosystem, improve domestic and international reach, and strengthen the infrastructure needed to handle rising remittance flows.
As the market expanded and the cost of incentive schemes increased, the government and SBP began moving toward a more sustainable and market-driven model in consultation with the banking industry.
The governor said the Pasban scheme represents another step in this transition and will help maintain the attractiveness of formal remittance channels while recognizing the contribution of overseas Pakistanis.
He also appreciated the Pakistan Banks Association and the banking industry for their cooperation in developing and launching the new scheme.
