A new industry-wide rewards scheme has been launched to encourage overseas Pakistanis to send home remittances through formal banking channels, giving eligible beneficiaries in Pakistan a chance to win cash prizes based on the volume and consistency of their remittance inflows.
The Pasban Remittance Rewards Scheme is being implemented by 1LINK, coordinated by the Pakistan Banks Association (PBA), and overseen by a Steering Committee that includes the State Bank of Pakistan (SBP). Participation is free and automatic, with beneficiaries not required to pay, purchase anything, or register separately for the draws.
The scheme is available to beneficiaries in Pakistan who receive home remittances from abroad directly into their bank accounts or wallets. To qualify for a quarterly draw, a beneficiary must receive at least $100, or its equivalent, in each of the three months of the relevant quarter.
Eligible remittances will generate one digital entry for every $100, with amounts rounded to the nearest $100. There is no upper limit on the number of entries a beneficiary can earn. Remittances sent in currencies other than the US dollar will be converted into their dollar equivalent using the applicable reference rate for determining eligibility and entries.
However, cash collected over the counter, Roshan Digital Account inflows, and transactions that are reversed or returned will not qualify. Employees of participating banks, the PBA, 1LINK and the SBP are also excluded from winning prizes.
For the second, third and fourth prizes, eligible beneficiaries will be divided into five regions based on the country from which the remittance was sent: GCC, UK, Europe, North America and Other Countries. The first prize will be open to eligible beneficiaries across all regions.
Winners will be selected through an audited electronic draw on the 15th day after the end of each quarter, or the next working day if the date falls on a public holiday. A person who wins a prize in a particular draw will not be eligible for another prize in the same draw.
All winners will be verified by their respective banks before prizes are paid. Prizes will be credited in Pakistani rupees to the winners’ bank accounts by the 25th of the draw month, with applicable withholding tax deducted according to law.
The scheme also includes independent third-party audits of the entry-generation and draw processes. Results will be announced publicly without revealing the personal details of winners, while the use of winners’ names or likenesses for publicity will require their consent.
Customer information will be handled in accordance with applicable laws and SBP regulations. Beneficiaries with questions or complaints have been directed to approach their respective banks first.
The Steering Committee may amend, suspend or withdraw the scheme after prior public notice, while changes will not affect prizes that have already been drawn. The scheme will operate under the laws of Pakistan.
