KARACHI: The State Bank of Pakistan (SBP) has launched the Pasban Remittance Reward Scheme. The initiative offers Rs16 billion in annual cash prizes.
The scheme aims to encourage overseas Pakistanis to send remittances through formal banking channels. It was launched by SBP Governor Jameel Ahmed with Pakistan Banks Association (PBA) representatives.
The banking industry will fully fund the reward scheme. It will not create any financial burden on the national exchequer.
The Pasban scheme will start from October 1, 2026. Its first draw will take place on January 15, 2027.
The first draw will cover eligible remittances received between October 1 and December 31, 2026. A total of 2,521 cash prizes will be offered in each quarterly draw.
The quarterly prize pool will stand at Rs4 billion. The first prize will be worth Rs100 million.
Eligibility for Pasban Scheme
A remittance beneficiary must receive at least USD 100 each month. The amount must be received for three consecutive months within a quarter.
Eligible remittances must be credited to a bank account. Each qualifying transfer will receive one digital and non-transferable entry number.
Higher-value remittances will receive additional entry numbers. One extra entry will be provided for each additional USD 100 received.
Participation in the scheme is completely free. Banks will not charge eligible beneficiaries any fee.
Participants will not need to purchase tickets or maintain a minimum balance. No other payment or consideration will be required.
Pasban Prize Details
The first prize will be Rs100 million for one beneficiary.
The second category includes 20 prizes of Rs25 million each. The third category includes 100 prizes of Rs10 million each.
The fourth category includes 2,400 prizes worth Rs1 million each. This brings the total number of quarterly prizes to 2,521.
The prizes will also be distributed across major remittance regions. Fifty percent will be allocated to the Gulf Cooperation Council (GCC).
The UK will receive 15 percent of the allocation. Europe will also receive 15 percent.
North America will receive 10 percent. The remaining 10 percent will cover other countries.
The Rs100 million first prize will remain open to beneficiaries from all regions.
SBP Highlights Remittance Growth
Governor Jameel Ahmed highlighted the growing role of overseas remittances. He said workers’ remittances reached a record $41.6 billion in FY26.
The figure stood at $21.7 billion in FY19. The governor said remittances could exceed $44 billion in FY27.
He said remittances support millions of families across Pakistan. These funds help cover household expenses, education, healthcare, and investment.
The governor also highlighted improvements in Pakistan’s external account position. He said SBP foreign exchange reserves reached $21.4 billion on September 18, 2026.
According to the governor, current reserves cover around three months of imports. Authorities are now targeting four months of import cover.
The scheme builds on earlier government efforts to promote formal remittance channels. The banking industry has also continued supporting such initiatives.
PBA CEO and Secretary General Muneer Kamal briefed participants about the scheme. He described Pasban as another coordinated step by the government, SBP, and banks.
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The draw results will be announced publicly through the scheme’s dedicated webpage. Banks and the PBA will also publish results on their official platforms.
