The State Bank of Pakistan has launched a new initiative, the Pasban Remittance Reward Scheme, aimed at encouraging overseas Pakistanis, including those living in the UAE, to send money home through official banking channels. Fully funded by Pakistan's banking industry, the scheme automatically enters remitters into a prize draw if they send at least $100 a month into a bank account for three consecutive months within a calendar quarter.
Under the programme, each quarter offers one first prize of PKR100 million, worth roughly Dh1.32 million, along with 20 second prizes of PKR25 million each, 100 third prizes of PKR10 million each, and 2,400 fourth prizes of PKR1 million each. Combined, the scheme distributes PKR16 billion in prizes annually worldwide, with authorities confirming that half of the total prize pool is reserved for remittance senders based in Gulf Cooperation Council countries, including the UAE.
Pakistani central bank officials have stressed that participation is entirely free, with no fees, ticket purchases, or minimum balance requirements attached to entry. Every $100 received through a qualifying transfer generates one entry into the draw, and larger transfers earn proportionally more entries. The scheme's stated goal is to channel a larger share of remittances from overseas workers and residents through formal banking systems rather than informal money transfer networks.
The large Pakistani community in the UAE is expected to be among the scheme's biggest participants, given that the UAE remains one of the top sources of remittances flowing into Pakistan. Economic analysts view the initiative as part of a broader push by Islamabad to strengthen foreign currency reserves by formalising remittance flows through the banking sector.