Rs16bn bank-funded remittance reward scheme unveiled

State Bank Governor Jameel Ahmad launched the Pasban Remittance Reward Scheme on Friday, Dawn reported. Banks will fund the prizes, with Rs16 billion available each year and no call on the national treasury. The scheme seeks to channel more overseas earnings into regulated banking, and it was developed with the Pakistan Banks Association under SBP patronage.

Each quarter, Rs4 billion will go to 2,521 winners, led by a single Rs100 million top prize. Lower tiers include 20 prizes of Rs25 million, 100 of Rs10 million and 2,400 of Rs1 million. Entries are automatic and free, and the number of entries rises with the dollar value credited to each beneficiary.

Eligibility requires at least $100 a month credited to a qualifying account or e-wallet across every month of the quarter, and over-the-counter cash does not count. Roshan Digital inflows are also excluded from the scheme. The qualifying window runs Oct 1 to Dec 31, 2026, with the first draw on Jan 15, 2027. Dawn also reported that 1LINK will run an algorithm-based draw, and that the PBA chief executive said the scheme follows an incentive banks began funding in July 2026.