HBL has led an awareness webinar on the Pasban Remittance Reward Scheme (PRRS), bringing together the State Bank of Pakistan (SBP) and Askari Bank to explain the initiative to overseas Pakistanis living in the United States. The online session was organized in consultation with the Consulate General of Pakistan in New York and focused on encouraging members of the Pakistani-American community to send money to their families through formal banking channels. The webinar provided a platform to discuss the scheme’s purpose, its potential benefits for eligible beneficiaries in Pakistan, and the importance of maintaining reliable channels for international money transfers. HBL said the session was part of its efforts to promote awareness of PRRS and engage with Pakistanis living abroad. By involving the central bank, commercial banks and diplomatic representatives, the initiative brought together stakeholders involved in Pakistan’s remittance ecosystem to explain how the scheme is intended to recognise remittance customers who use formal financial services.
The Pasban Remittance Reward Scheme was introduced under the patronage of the SBP and launched through the Pakistan Banks Association as an industry-funded initiative. It aims to encourage overseas Pakistanis to use formal banking channels when sending money home by offering eligible beneficiaries the opportunity to win cash prizes. The scheme carries an annual prize pool of Rs16 billion, funded by the banking industry rather than the national exchequer. Under the announced framework, beneficiaries must receive eligible remittances of at least $100 per month for three consecutive months within a quarter to qualify for entries. The number of entries is linked to the value of eligible remittances received, meaning higher qualifying amounts can generate additional entries. The scheme is designed to provide incentives while encouraging a more consistent flow of funds through regulated financial institutions. Its introduction follows a broader shift towards arrangements in which banks take greater responsibility for funding remittance incentives, as authorities seek to maintain inflows without relying on government-funded subsidies.
Remittances play an important role in Pakistan’s economy, providing households with money for everyday expenses, education, healthcare and other financial needs. They also contribute to the country’s external financing position by bringing foreign currency into the formal financial system. For overseas Pakistanis, choosing official transfer channels can provide a documented transaction record and allow recipients to access funds through regulated banking services. The PRRS adds a potential reward component to that process, giving eligible recipients an opportunity to participate in quarterly prize draws. The scheme provides for 2,521 cash prizes worth Rs4 billion each quarter, with prizes ranging from Rs1 million to Rs100 million. The announced allocation distributes entries across major remittance regions, including the Gulf Cooperation Council, the United Kingdom, Europe, North America and other countries. Participation is intended to be free, with no requirement to purchase tickets or pay an entry fee. These features make public awareness important, particularly for overseas communities that may need clear information about eligibility, qualifying transfers and how beneficiaries can participate without falling for unofficial claims or requests for payment.
HBL’s webinar reflects the role commercial banks can play in communicating financial initiatives to overseas communities and explaining how formal remittance services connect senders with recipients in Pakistan. The participation of SBP and Askari Bank also provided an opportunity for the institutions involved to discuss the scheme collectively, while coordination with the Consulate General of Pakistan in New York helped direct the session towards Pakistani Americans. Continued outreach can help potential participants understand the conditions attached to the reward programme and distinguish official information from misleading messages. For the banking sector, greater use of formal remittance channels can support transaction transparency and sustain engagement with customers sending funds across borders. The scheme’s effectiveness will depend in part on how clearly its rules are communicated, how accessible participating banking services are, and whether overseas Pakistanis and their families understand the qualification process. HBL’s involvement adds to the awareness efforts surrounding PRRS as Pakistan seeks to maintain remittance flows through a model supported by the financial industry.
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