On Thursday, 28 September 2026, Pakistan’s banking community, the State Bank of Pakistan (SBP) and the federal government jointly unveiled the Pasban Remittance Rewards scheme – a country‑wide incentive programme designed to honour overseas Pakistanis and persuade them to send their earnings through formal banking channels.
The initiative is being rolled out under the umbrella of the Pakistan Banks Association (PBA), which acted as the coordinating body between commercial banks, the central bank and relevant government ministries. By pooling regulatory oversight, industry reach and policy support, the three‑way partnership aims to create a seamless, trusted pathway for diaspora funds.
Pasban Remittance Rewards will grant eligible expatriates a set of benefits – ranging from cash rebates and fee waivers to preferential exchange rates – each time they remit money that is processed through a participating Pakistani bank. The scheme also includes a public recognition component, highlighting top contributors on a digital leaderboard and through media campaigns, thereby linking financial incentives with national pride.
Remittances have long been a lifeline for Pakistan’s economy, traditionally accounting for roughly 3 % of gross domestic product and delivering upwards of $30 billion annually. A sizable share, however, still flows through informal channels that escape official tracking, depriving the country of valuable foreign‑exchange earnings and limiting the ability of authorities to harness the diaspora’s full economic potential. Formalising these inflows is therefore a priority for both the SBP and the government, especially as foreign‑exchange reserves have faced periodic strain amid balance‑of‑payments pressures.
Banking officials anticipate that the rewards programme will boost the volume of transactions recorded in the formal system, generate additional fee income for banks, and help tighten the country’s FX reserve position. In a statement, the SBP’s Governor emphasized that “incentivising legitimate remittance routes not only strengthens our external balances but also deepens financial inclusion for families receiving these funds.” The Ministry of Finance echoed this view, noting that higher recorded inflows will improve the accuracy of macro‑economic data and support more effective policy planning.
While the scheme promises significant upside, experts caution that its success will depend on effective communication with the diaspora, competitive reward structures and the ability of banks to minimise processing delays. Ongoing monitoring by the PBA and periodic adjustments to the incentive tiers are planned to keep the programme attractive and aligned with market dynamics. If adopted widely, Pasban Remittance Rewards could mark a decisive step toward channeling Pakistan’s diaspora wealth through transparent, regulated avenues, bolstering the nation’s foreign‑exchange reserves and contributing to broader economic stability.