ISLAMABAD: Fulfilling yet another condition of the Financial Action Task Force (FATF), the government has decided to discontinue the prize bond valuing Rs15,000 and Rs7,500 for banking and financial operations across the country from June 2021 and December 2021 respectively.
The federal government has decided to discontinue Rs15,000 and Rs7,500 bonds and the investors have time till June 2021 to redeem Rs15,000 bonds.
According to the circular, National Prize Bonds of Rs 5,000 denomination will not be encashed or redeemed considered a piece of paper from July 1.
On the other hand, investors have time till December 2021 to redeem Rs 7,500 bonds. The bonds could also be deposited in the bank or replaced with Special Savings Certificate (SSC).
Previously, the State Bank of Pakistan (SBP) had discontinued the Rs. 25,000 prize bonds.
