SBP directs commercial banks to facilitate prize bonds holders

The State Bank of Pakistan has directed commercial banks to facilitate customers in availing the facility on payment of prize money & face value of National Prize Bonds through their bank branches.

“It has been observed that commercial banks have not been extending the desired level of support to their customers in availing the facility on payment of prize money & face value of National Prize Bonds through their bank branches,” stated SBP.

In view of the above, all authorized commercial banks are advised to ensure compliance to the following instructions:

• The head office / regional offices of each commercial bank shall reiterate the instructions and advise all the designated branches to extend maximum support to their customers in this regard. • Efforts shall be made to increase the number of designated branches for the subject facility so as to enhance the outreach and ensure adequate geographic coverage. • The information about availability of this facility shall be prominently displayed on the banks’ official website as also in the premises of the designated branches for information of the general public. • Customer service officials shall facilitate / brief customers on the availability of this facility in their respective branches.