Pakistan promotes PASBAN scheme to boost formal remittances

October 20, 2026 (MLN): Pakistan is promoting the use of formal banking channels for overseas remittances through the PASBAN Remittance Reward Scheme, with the Consulate General of Pakistan in New York and the State Bank of Pakistan (SBP) jointly organizing a webinar to raise awareness among the Pakistani-American community about the scheme and its incentives.

Speaking at the webinar, Consul General of Pakistan in New York Aamer Ahmed Atozai highlighted the role of overseas Pakistanis in supporting the country’s economic development, noting that remittances help sustain household incomes, strengthen foreign exchange reserves, and contribute to overall economic stability.

He stressed the need to facilitate remittances through accessible, secure, efficient, and reliable formal channels. He added that initiatives such as the PASBAN Remittance Reward Scheme can encourage overseas Pakistanis to use regulated banking channels and benefit from available incentives, according to APP.

Representatives of the SBP, the Pakistan Banks Association, and commercial banks participated in the webinar, discussing the scheme’s objectives, potential benefits for overseas Pakistanis, and ways to improve awareness and engagement with the Pakistani diaspora.

An interactive question-and-answer session allowed participants to seek clarification and discuss the scheme’s practical benefits directly with the panelists. The participation highlighted the community’s interest in understanding formal remittance channels and the incentives available under the scheme.

Atozai appreciated the SBP, the banking sector, and the panelists for their collaboration in organizing the session. He reaffirmed the Consulate General’s commitment to working with Pakistani institutions and community stakeholders to promote initiatives benefiting overseas Pakistanis and supporting the country’s economic progress.

The webinar concluded with an emphasis on continued cooperation between Pakistani institutions and the diaspora to encourage formal remittance channels and strengthen economic ties between Pakistan and the Pakistani-American community.

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