The Presidents/Chief Executives of all Authorized Dealers
in Foreign Exchange/Microfinance Banks and Exchange Companies
Dear Sirs/Madam,
Incentive Scheme for Marketing of Home Remittances
Attention of Authorized Dealers / Microfinance Banks/Exchange Companies is invited to F.E. Circular No. 16 dated December 17, 2018 in terms of which a performance based scheme had been introduced to enhance their marketing activities for promotion of home remittance products and services.
In order to further encourage promotion of home remittances through formal channels, the Government of Pakistan has relaunched the performance based scheme effective from January 01, 2020 as given below:
| Home Remittances mobilized by domestic Banks/MFBs/ECs (in equivalent US$) |
Marketing Expenses Reimbursement |
Home remittances exceeding 15% growth in calendar year 2020 (CY20) compared with the levels achieved in calendar year 2019 (CY19).
|
Rs. 1 per each incremental USD mobilized over 15% growth
|
3. All other instructions on the subject shall remain unchanged.
4. All are advised to bring the same to the notice of their constituents.