Pakistan launches ‘Diamond’ category in loyalty scheme for remitters, promising new benefits

Pakistani customers enter a foreign currency exchange shop in Karachi, Pakistan, on October 14, 2010. (AFP/ File)

• Remitters can avail preferential treatment at airports and embassies and get gratis passports
• The South Asian country relies heavily on foreign remittances to keep its cash-starved economy afloat

ISLAMABAD: Pakistan’s central bank launched a new ‘Diamond’ category in its remittance program for overseas Pakistanis on Friday, promising additional benefits to category holders such as preferential treatment at embassies and airports, and gratis passports.
The Sohni Dharti Remittance Program (SDRP) is a point-based loyalty scheme for remitters who work abroad and send money to their relatives in Pakistan through banking channels or exchange companies.
Remitters earn reward points based on a certain percentage of every remittance they send. The SDRP program already has three categories: Green (annual remittances of up to $10,000), Gold (annual remittances from $10,001 to $30,000) and Platinum (annual remittances of more than $30,000). The statement did not specify the amount for the Diamond category.
“Effective from September 22, 2023, a new ‘Diamond’ category has been added in the Sohni Dharti Remittance Program (SDRP),” the State Bank of Pakistan (SBP) said in a statement.
Remitters can track their remittances and reward points through the SDRP app on their smartphones.
The SBP recalled former finance minister Ishaq Dar’s statement in which he said the Diamond category would include enhanced reward points and benefits such as arms license of non-prohibited bore, preferential treatment at Pakistan embassies/airports, and gratis passports.
It said reward points can be redeemed by the remitter and their beneficiary by availing free of cost products and services such as the payment of the Emigrant Registration fee, payment of duty for imported mobile sets and vehicles to the Federal Board of Revenue (FBR), and the payment of renewal fee for passports.
“Moreover, benefits on redeeming reward points can also be availed on International air tickets and extra luggage charges by Pakistan International Airlines; life insurance/takaful premium payment at State Life Insurance Corporation; and purchases made at Utility Stores Corporation of Pakistan,” the SBP added.
Pakistan relies heavily on remittances to keep its cash-starved economy afloat. According to official data by the SBP, the South Asian country received $27 billion in remittances during the outgoing fiscal year, FY23.
Saudi Arabia and the UAE remained the top contributors of money sent home by Pakistani workers during FY23.