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SBP announces an incentive scheme to encourage home remittances

KARACHI: The State Bank of Pakistan (SBP) has declared an incentive scheme for the encouragement of home remittances. According to the notification issued by the central bank, it states that, to promote domestic banks/micro finance banks/exchange companies which are offering home remittance payment services, a performance-based scheme has been initiated to augment their marketing/promotional/awareness efforts for home remittance products and services. The government will repay these expenses via SBP. The details…