Reimbursement of Telegraphic Transfer (T.T) Charges Scheme against Home Remittances

                      Please refer to EPD Circular Letter No. 14 of 2023 and other related instructions on the subject, issued from time to time.

2.     In this regard, to further incentivize the ADs and MFBs to maximize their efforts for increasing remittance inflows, it has been decided to make the following revisions in the subject scheme:

1. Fixed Component: A reimbursement of SAR 20 will be made for all eligible home remittance transactions of USD 100 and above.
   
   
2. Variable Component:
   
   
   1. An additional reimbursement of SAR 08, per incremental eligible transaction, will be made for up to 10% or USD 100 million growth in home remittances over the previous year (whichever is lower).
      
      
   2. Further, additional reimbursement of SAR 07, per incremental eligible transaction, will be made for growth exceeding 10% or USD 100 million in home remittances over the previous year.

3.     The performance of ADs/MFBs will be evaluated by SBP on a monthly basis and payments would be reimbursed accordingly. Any required adjustment in payments, on a consolidated basis, would be made in the last quarter of the Fiscal Year.

4.     The above revisions shall take effect from October 01, 2024. The operational instructions related to implementation of the T.T Charges scheme will be communicated separately.