The State Bank of Pakistan (SBP) has extended the deadline for the encashment, conversion and redemption of prize bonds of Rs40,000, Rs25,000, Rs15,000 and Rs7,500 denominations till December 31, 2021. Accordingly, all banks have been told to accept requests from people who wish to encash, redeem and convert these denominations till December 31, 2021. Banks have to submit data by branch and region of how many prize bonds of these denominations they hold by December 31, 2021 or latest by the next working day i.e. January 4, 2022. The bonds can be converted to premium prize bonds at the 16 field offices of the SBP Banking Services Corporation and branches of six authorized commercial banks..
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