Overseas Pakistanis sent home $41.6 billion in the twelve months to June 2026. That is the most the country has ever received in a fiscal year, up 8.6% from $38.3 billion in FY25, according to State Bank of Pakistan data.
The number matters beyond its size. It was larger than the $30.1 billion Pakistan earned from exports over the same period, Outlook Business reported, and it helped cover a trade deficit of about $40 billion.
For fintech companies, it is also a target. Every dollar in that total was priced, sent, checked and delivered by someone.
A slower record, then a faster start
The FY26 record came with a slowdown. Growth of 8.6% followed 26.6% in FY25 and 10.7% in FY24, according to Outlook Business, so the total kept climbing even as the pace eased.
Within the year, May 2026 set the monthly record at $4.25 billion. June then fell 18.3% from May to $3.5 billion, though it was still 2% higher than a year earlier.
The new fiscal year has started more strongly. Remittances reached $10.9 billion from July to September 2026, up 14.74% from $9.5 billion in the same period of FY26, Business Recorder reported. September alone brought $3.6 billion, up 12.7% from a year earlier and down 1.9% from August.
Three months is too short to call a trend. But it does put the first quarter of FY27 on a faster pace than the whole of FY26.
Where the money comes from
The Gulf dominates. Saudi Arabia remained the largest source in FY26, and in September it sent more than any other country, with the UAE second. Together they sent about $1.65 billion of that month's $3.6 billion, close to half.
Against a year earlier, Saudi Arabia was up 19.7%, the UAE 10.0%, the UK 13.3% and the US 13.7%.
The European Union figure is the one to watch. It fell 9.7% from August, while Saudi Arabia, the largest source, rose 3%. One month proves little, but it shows how differently these corridors can move.
The incentives are changing
The rules around this money shifted at the start of FY27. Two State Bank schemes ended on 1 July 2026, Profit reported.
The Sohni Dharti Remittance Programme stopped awarding new points. It was launched to encourage overseas Pakistanis to send money through regulated institutions rather than informal channels. The Telegraphic Transfer Charges Incentive Scheme was also discontinued, which means banks no longer receive State Bank reimbursement for processing eligible remittances.
Remittances still grew in the first quarter after those changes. That doesn't show the schemes were unnecessary, because many things move these numbers. The State Bank has since announced a Pasban Remittance Reward Scheme, and how it compares with what it replaced is worth following.
There is also a limit to what these figures can tell you. The Sohni Dharti scheme existed because some money moves outside the formal system, and that money is not visible in the data reported here.
Why fintechs care
Three things make this market attractive to new entrants.
The money is concentrated. A handful of corridors carry most of it, so a company can win meaningful volume without being everywhere at once.
The last mile is improving. Once money lands in Pakistan, Raast can move it instantly between accounts. Raast is a domestic system and doesn't cross borders itself, so the international leg is where companies still compete.
The audience is growing beyond migrant workers. Pakistani freelancers earned a record $197 million in September 2026, according to State Bank data reported by Business Recorder via Investify. Those people need dollar accounts and low-cost conversion, which is why USD account providers are targeting Pakistan.
Stablecoin companies see the same opening, though they face a licensing regime that is still taking shape. Our guide to PVARA licensing explains what they have to do first.
What to watch
- October's figures. The State Bank's data calendar lists country-wise remittances for October by 10 November 2026.
- The new reward scheme. Whether it holds flows in regulated channels now that the older incentives have gone.
- The Saudi and UAE share. Close to half of a single month's money comes from two countries, which is a strength and a concentration risk.
- Cost. None of the figures reported here show what senders actually pay. That is the number that will decide who wins these corridors.