The Pakistan Banks’ Association (PBA) has strongly rejected recent accusations claiming that remittance subsidies are being misappropriated, calling these allegations misleading and harmful to consumer confidence in the banking sector.

In a detailed statement, the PBA clarified that all remittance transactions comply with regulations issued by the State Bank of Pakistan. They emphasized adherence to transparent fee structures, authorized incentive programs, and audited process flows designed to benefit citizens sending money home from abroad.

The association criticized the misinformation as “factually incorrect,” warning that such claims can undermine trust in legitimate banking services and deter overseas Pakistanis from utilizing formal channels. It reaffirmed its commitment to work with regulators to ensure that both customers and financial institutions are protected from deceptive narratives.

By dismissing these false statements and underlining strict regulatory oversight, the PBA aims to reinforce trust in remittance channels, safeguard consumer interests, and promote the continued use of formal banking systems for cross-border money transfers.