Business
SBP introduces Diamond category of Sohni Dharti Remittance Program
The SDRP is a point-based loyalty program where participants earn points for transmitting money through designated channels of SBP-regulated organizations.
Islamabad: The State Bank of Pakistan (SBP) introduced a new 'Diamond' category of the Sohni Dharti Remittance Program (SDRP) on Friday that offers improved points and extra advantages to remitters in an effort to further boost remittances through official channels.
The 'Diamond' category of the Sohni Dharti Remittance Program (SDRP), in addition to the three already existing categories of Green, Gold, and Platinum, will be in force as of September 22, 2023, according to a statement released today.
The SDRP is a point-based loyalty program where participants earn points for transmitting money through designated channels of SBP-regulated organizations.
In his budget speech for FY24, the former finance minister Ishaq Dar announced the addition of the Diamond category with increased reward points and the provision of other benefits like an arms license for non-prohibited bore, priority check-in at Pakistani embassies and airports, and a free passport for Diamond Category holders.
Moreover, Reward points can be redeemed by remitter and their beneficiary for availing free of cost products and services including Emigrant Registration fee at Bureau of Emigration and Overseas Employment; duty payment of imported mobile sets and vehicles to Federal Board of Revenue; School fee by Overseas Pakistanis Foundation (OPF); and renewal fee of passports at Directorate General of Immigration and Passports, said the statement.
In addition, the benefits on redeeming reward points can also be availed on International air tickets and extra luggage charges by Pakistan International Airlines; life insurance or takaful premium payment at State Life Insurance Corporation; and purchases made at Utility Stores Corporation of Pakistan.
These reward points appear on the app in the form of a virtual card that updates automatically with reward points after each remittance.
Additional reward points redemption avenues like 1BILL and PayPak card are also being offered in SDRP. The addition of these new avenues will provide benefits to remitters and their beneficiaries to pay bills and use PayPak Card at merchants and Pakistani e-commerce stores.