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Pakistani Expatriates in the UAE Encouraged to Remit Funds Legally

The State Bank of Pakistan has advised Pakistani expats in the UAE to use proper channels for remitting monies to their home country.

Pakistani expatriates in the UAE have been urged to utilize official channels for remitting funds to their home country by the State Bank of Pakistan. 

The central bank has introduced several initiatives to incentivize overseas Pakistanis to remit money through legal channels, promoting transparency and discouraging informal methods such as the hundi/hawala system.

Roshan Digital Account and Sohni Dharti Initiative:

Among the initiatives, the Roshan Digital Account is highlighted as a popular avenue for overseas Pakistanis. The Sohni Dharti initiative has also been introduced as a point-based loyalty scheme. 

Through Sohni Dharti, remitters can earn reward points by sending money through banking channels or exchange companies.

Rewards for Remitting Funds Legally:

The Sohni Dharti mobile app facilitates remitters in tracking and updating their remittances, along with providing information on reward points. These points can be redeemed for various services, including:

  1. PIA tickets
  2. Extra luggage charges
  3. Duty payment for imported mobiles and vehicles
  4. Renewal fees for CNIC and NICOP
  5. Life insurance and Takaful premium payment
  6. School fees at overseas foundation schools
  7. Utility stores purchases
  8. Renewal fees for passports

Remittance Sources and Potential Growth:

The UAE is home to around 1.7 million Pakistani diaspora, contributing significantly to remittances. 

Total workers’ remittances to Pakistan reached $2.2 billion in September 2023, with notable contributions from Saudi Arabia, the UAE, the UK, and the US. The ambassador sees substantial potential for further growth in remittances.

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