Pakistanis living in the United Arab Emirates (UAE), Gulf Cooperation Council (GCC) countries, and other nations have the opportunity to win prizes totaling up to 16 billion rupees annually (equivalent to 57 million US dollars or 212.27 million dirhams) for sending money transfers through official banking channels.
According to the Pasban money transfer reward scheme, launched by the State Bank of Pakistan on Friday, 50 percent of all annual prize funds will go to Pakistanis residing in the UAE and other Gulf countries. The largest prize is 100 million rupees (1.32 million dirhams).
There are over 1.7 million Pakistanis residing in the UAE, making them the second-largest community in the country. To qualify for this scheme, the money transfer recipient must receive an equivalent of at least 100 US dollars (367 dirhams) monthly for three consecutive months within one quarter into their bank account.
For every 100 dollars received in the corresponding month, the beneficiary receives one digital, non-transferable number or ticket for the quarterly draw. The higher the amount of transfers, the more tickets the participant receives; for example, a person who receives 100 dollars in the first month, 200 in the second, and 300 in the third, will receive six tickets for that quarter.
Participation in the scheme is free. Banks will not charge any fees to the respective beneficiaries nor require payments, ticket purchases, or maintenance of a minimum balance to participate.
The scheme provides for the distribution of 2,521 cash prizes worth 4 billion rupees each quarter. Among these prizes are: one grand prize of 100 million rupees, 20 secondary prizes of 25 million rupees each, 100 third prizes of 10 million rupees each, and 2,400 fourth prizes of 1 million rupees each. In total, over 10,000 winners will receive 16 billion rupees annually.
Prizes will be distributed among the main money transfer regions. 50 percent of the prize fund will be allocated to the GCC, followed by 15 percent to the UK, 15 percent to Europe, 10 percent to North America, and 10 percent to other countries. The first prize is available to all eligible beneficiaries receiving transfers from any region.
Draws will be held quarterly, with the first draw scheduled for January 15, 2027, covering transfers received between October 1 and December 31, 2026. The State Bank of Pakistan (SBP) reported that the draw will be conducted through a secure, fully digital, and auditable process. Results will be published on the scheme's dedicated website, as well as on the websites and official accounts of participating banks and the Pakistan Banks Association.
According to SBP, the volume of worker remittances reached a record $41.6 billion in the 2026 fiscal year compared to $21.7 billion in the 2019 fiscal year. Jamil Ahmad, Managing Director of the State Bank of Pakistan, noted that remittances help millions of Pakistani families cover household expenses, finance education, healthcare, investments, and other economic opportunities.
He also mentioned that SBP's foreign exchange reserves grew to $21.4 billion from below $3 billion in February 2023. The new Pasban scheme marks a transition to a market model after Pakistan previously relied on government stimulus programs for remittances to encourage the use of official channels.
Munir Kamal, CEO and Secretary General of the Pakistan Banks Association (PBA), stated that banks have been funding incentives for senders since July 2026, leading to the annual commitment of the banking industry approaching 100 billion rupees. The banking sector believes that the new scheme aims to maintain the attractiveness of official money transfer channels while recognizing the contribution of Pakistanis abroad to the Pakistani economy. According to SBP, the scheme is fully funded by the banking industry and will not burden the government or the treasury. The initiative aims to encourage Pakistanis abroad to use official banking channels when sending money to families and beneficiaries in Pakistan.
