KARACHI – The State Bank of Pakistan (SBP) has launched a new reward scheme for overseas Pakistanis, offering annual cash prizes worth Rs16 billion to encourage the use of formal banking channels for sending remittances.
SBP Governor Jameel Ahmad formally inaugurated the “Pasban Remittance Reward” scheme, under which Pakistanis living abroad who send money through banking channels will be eligible for cash prizes.
The initiative has been launched under the auspices of the Pakistan Banks’ Association and all expenses of the scheme will be borne by the banking industry, placing no burden on the national exchequer.
The scheme aims to encourage overseas Pakistanis to use legal and formal channels for remitting money to Pakistan.
First Draw Date
PBA CEO Munir Kamal said the first draw will be held on January 15, 2027, covering remittances received between October 1 and December 31, 2026. The draw will be fully digital and transparent, while participation in the scheme will be free of charge.
Cash Prizes
Under the scheme, more than 10,000 winners will receive prizes each year. Every quarter, 2,521 cash prizes worth Rs4 billion will be distributed, including a 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.
Who are Eligible?
Recipients who receive at least $100 per month in their bank accounts for three consecutive months during a quarter will qualify. One digital entry number will be issued for every $100 received, meaning higher remittances will generate more entries.
Cash Prizes Quota
The scheme will also operate a regional quota, with 50 percent of prizes allocated to Gulf Cooperation Council countries, 15 percent to the United Kingdom, 15 percent to Europe, 10 percent to North America and 10 percent to other countries. The top prize will remain open to participants from all regions.
The results will be announced through the dedicated Pasban website, the State Bank of Pakistan, the Pakistan Banks’ Association and participating banks’ social media platforms.
