State Bank launches Rs16bn quarterly raffle to boost formal remittances

The State Bank of Pakistan, together with the Pakistan Banks Association, launched the Pasban Remittance Reward Scheme to encourage overseas Pakistanis to use formal banking channels. Each quarter, Rs4 billion will be distributed among 2,521 winners, with a single Rs100 million top prize, 20 prizes of Rs25 million, 100 of Rs10 million and 2,400 of Rs1 million. Beneficiaries must receive at least $100 in each month of a quarter, and the number of entries rises with the amount remitted.

Cash collected at branches and inflows to Roshan Digital Accounts or foreign-currency wallets do not qualify. The inaugural qualifying period runs from Oct 1 to Dec 31, 2026, with the first draw scheduled for Jan 15, 2027. Prizes will be allocated regionally, with a larger share for remittances from Gulf Cooperation Council countries. The draw will be conducted by 1LINK using an algorithmic random-selection system, audited independently, and prize funds will be held in escrow at the National Bank of Pakistan.