Pakistanis in the UAE and other Gulf countries to receive 50% of annual prizes, with the top prize worth Dh1.32 million.
Pakistanis living in the UAE, other Gulf countries and overseas markets could win a share of prizes worth up to PKR16 billion ($57 million; Dh212.27 million) annually by sending money home through formal banking channels.
Under the Pasban Remittance Reward Scheme, launched by the State Bank of Pakistan on Friday, Pakistanis based in the UAE and other Gulf countries will account for 50 per cent of the total annual prizes. The scheme’s biggest individual prize is worth PKR100 million (Dh1.32 million).
More than 1.7 million Pakistanis live and work in the UAE, making them the country’s second-largest expatriate community.
How the scheme works
To qualify for the reward scheme, a remittance beneficiary must receive the equivalent of at least $100 (Dh367) per month for three consecutive months within a quarter. The money must be transferred through formal banking channels and deposited into a bank account.
For every $100 received during an eligible month, the beneficiary will be awarded one digital, non-transferable entry number, effectively giving them one ticket for the quarterly prize draw.
The number of entries increases with the amount of money received. For instance, a beneficiary who receives $100 in the first month, $200 in the second and $300 in the third would qualify for a total of six entries in that quarter’s draw.
Participation in the scheme is free. Banks will not charge eligible beneficiaries a fee, require them to purchase a ticket or ask them to maintain a minimum account balance to take part.
Quarterly prizes
Under the scheme, 2,521 cash prizes worth a combined PKR4 billion will be awarded every quarter.
The quarterly prize structure includes:
- One first prize of PKR100 million
- 20 second prizes of PKR25 million each
- 100 third prizes of PKR10 million each
- 2,400 fourth prizes of PKR1 million each
Over the course of a year, more than 10,000 winners are expected to share a total prize pool of PKR16 billion.
The prizes will be allocated across Pakistan’s major remittance markets, with the GCC receiving 50 per cent of the total prize allocation. The UK and Europe will each account for 15 per cent, while North America and other countries will each receive a 10 per cent share.
The scheme’s first prize, however, will be open to all eligible beneficiaries, regardless of the region from which the remittance is sent.
When will the draws take place?
Prize draws will be conducted every quarter, with the first draw scheduled for January 15, 2027.
The inaugural draw will cover eligible remittances received between October 1 and December 31, 2026.
According to the State Bank of Pakistan (SBP), the draws will be carried out through a secure, fully digital and auditable system to ensure transparency.
Results will be published on the scheme’s dedicated website, as well as through the websites and official social media channels of participating banks and the Pakistan Banks Association.
Pakistan remittances reach record $41.6 billion
Workers’ remittances to Pakistan reached a record $41.6 billion in fiscal year 2026, nearly double the $21.7 billion recorded in FY2019, according to the SBP.
Jameel Ahmad, governor of the State Bank of Pakistan (SBP), said remittances play an important role in supporting millions of Pakistani families, helping them cover household expenses as well as education, healthcare, investment and other economic needs.
He added that the SBP’s foreign exchange reserves had increased to $21.4 billion, compared with less than $3 billion in February 2023.
The launch of the Pasban Remittance Reward Scheme marks a shift towards a market-based approach, following Pakistan’s earlier reliance on government-backed home remittance incentive programmes to encourage overseas Pakistanis to send money through formal channels.
Muneer Kamal, CEO and secretary-general of the Pakistan Banks Association (PBA), said banks have been financing incentives for remitters since July 2026, taking the banking sector’s annual commitment to nearly PKR100 billion.
According to the banking industry, the new reward scheme is designed to keep formal remittance channels attractive while recognising the contribution overseas Pakistanis make to the country’s economy.
The SBP said the programme will be fully funded by Pakistan’s banking industry, meaning it will not place a financial burden on the government or the national exchequer.
The initiative ultimately aims to encourage more overseas Pakistanis to use regulated banking channels when transferring money to their families and other beneficiaries in Pakistan.
