Pakistan

SBP NRLP mobile app to reward overseas Pakistanis for remittances: ECC

SBP NRLP mobile app to reward overseas Pakistanis for remittances

SBP NRLP mobile app to reward overseas Pakistanis for remittances, Finance Minister Shaukat Tarin said.

He said this, while chairing a meeting of Economic Coordination Committee of the cabinet in Islamabad today (Wednesday).

SBP NRLP mobile app to reward overseas Pakistanis for remittances

State Bank of Pakistan will introduce a mobile application, National Remittance Loyalty Program or NRLP.

That will offer incentives and rewards to overseas Pakistani against each remittance transaction in accordance with a set criteria.

Moreover, he said that government’s policy of incentivizing remittances has contributed in achieving record remittance of 29.4 billion dollars in the last fiscal year.

After due deliberations, the ECC approved the structure and estimated financial impact of the NRLP.

That aims to incentivize remitters to transfer funds through formal channels thus further strengthening the inflow of remittances.

GTV

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