SBP discontinues Rs 25,000 National Prize Bond
Published On
The bonds can be converted to Rs 25,000 denomination Premium bonds
KARACHI (Dunya News) – Fulfilling another requirement of the Financial Action Task Force (FATF), State bank of Pakistan (SBP) has halted the sale of Rs25,000 denomination prize bonds with immediate effect. The National Prize Bonds will not be encashed or redeemed after May 31, 2021.
According to the notification issued by SBP, cash payment for encashments of cited bonds is NOT allowed. However, the bondholder(s) shall have the following options to replace or encash these bonds;
The bonds can be converted to Rs 25,000 denomination Premium bonds (Registered) through the16 field offices of SBP Banking Services Corporation, and branches of six authorized commercial banks i.e. National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited and Bank Alfalah Limited.