Opportunity · High impact
State Bank launches Rs16bn Pasban Remittance Reward Scheme, with half of regional prizes for GCC senders
- What happened
- Launched on 25 September and funded by banks, the scheme rewards recipients who receive at least $100 a month into a bank account for three consecutive months in a quarter. The first draw, on 15 January 2027, covers remittances received from 1 October.
- Why it matters to you
- The prizes reward bank-account credits, which could tilt Gulf senders towards bank-deposit channels this quarter, and the GCC corridor carries the largest share of prizes.
- What to watch
- Whether transfers credited to mobile wallets or branchless-banking accounts qualify, and which banks and exchange partners take part.
Sources: State Bank of Pakistan, Dawn, Business Recorder, Gulf News
Watch
Pakistan reaffirms it complies with applicable US sanctions on Iran
ایران پر امریکی پابندیوں کی پاسداری کرتے ہیں، پاکستان
- Why it matters to you
- A clear public stance reduces uncertainty for Gulf firms screening Pakistan-bound transactions and correspondent-bank flows.
Sources: Jang, Independent Urdu, Arab News Pakistan