SBP launches Rs16 billion Pasban Remittance Reward Scheme
Eligible remittance recipients who receive at least $100 monthly for three consecutive months can enter quarterly draws for prizes up to Rs10 crore.
The State Bank of Pakistan on Friday launched the Pasban Remittance Reward Scheme, a market-based programme offering Rs16 billion in annual cash prizes to people who receive home remittances through formal banking channels. The central bank said the scheme is meant to recognise and reward remittance customers who use banking channels instead of informal ones.
According to ProPakistani, each quarter will distribute 2,521 prizes worth Rs4 billion, bringing the total annual prize pool to Rs16 billion. The largest single prize is Rs10 crore and is open to beneficiaries receiving remittances from all regions.
To qualify, a beneficiary must receive a home remittance equivalent to at least $100 every month for three consecutive months within a quarter, and the remittances must be received in a bank account through formal banking channels. ProPakistani reported that eligible beneficiaries receive digital, non-transferable entry numbers based on the amount of remittance received each month. A $100 remittance earns one entry, provided the three-month consecutive requirement is met. Higher remittances generate more entries in proportion to the amount received. For example, receiving $100 in October, $200 in November and $300 in December would generate six entries in total.
The first draw will be held on January 15, 2027, covering eligible remittances received from October 1 to December 31, 2026. Draws will take place every quarter through a fully digital and auditable process, ProPakistani reported.
In each quarterly draw, 2,400 beneficiaries will receive Rs10 lakh, meaning 9,600 beneficiaries can win Rs10 lakh each over four draws in a year. Overall, more than 10,000 beneficiaries will receive prizes annually.
TechJuice reported that the scheme is being implemented by 1LINK. Participation is free: eligible beneficiaries do not have to pay a fee, buy a ticket, maintain a minimum balance or make any other payment. Draw results will be made public on the scheme's dedicated webpage, as well as on the official websites and social media accounts of participating banks and the Pakistan Banks Association.
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