Circulars/Notifications - Exchange Policy Department  
 EPD Circular Letter No. 15 of 2023

September 21, 2023

The Presidents/Chief Executives
All Authorized Dealers in Foreign Exchange/Microfinance Banks/Exchange Companies

Dear Sir / Madam,

Incentive Scheme for Marketing of Home Remittances

        Please refer to EPD Circular No.8 of 2021 dated July 2, 2021 regarding the subject.

2.    In order to encourage domestic financial institutions (FIs) to enhance their marketing efforts for mobilizing home remittances through formal channels, the Government of Pakistan has approved following revisions in the scheme:

  1. A performance based incentive will be granted, by the end of this financial year (FY2023-24), to those financial institutions whose home remittance mobilization efforts result in growth in their home remittances from the previous year (FY2022-23). For any incremental home remittance of the FI up to five percent, between five and ten percent, and over ten percent, the cash incentive would be Rs1, Rs2 and Rs3 per USD, respectively, for each slab.

  2. The scheme will be effective from FY2023-24 onwards on perpetual basis

3.     You are advised to bring the same to the notice of all your constituents.

Yours truly,


(Dr. Asif Ali)

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