Banks directed to encash 40000, 25000 prize bonds up to September 30

KARACHI: Following the extension in the last date for encashment, replacement or conversion of prize bonds the State Bank of Pakistan has directed all banks to facilitate citizens in the regard up to September 30.

Currency Management Department of SBP Banking Services Corporation has directed heads of all commercial banks to facilitate citizens in that regard.

The Finance Division, Government of Pakistan has extended the last date for encashment, replacement and conversion of Rs.40,000/-, Rs.25,000/- and Rs.15,000/- denomination National Prize Bonds (bearer) up to September 30, 2021,vide Notification Nos. F.16(3)GSI/2014-915, 916 & 917 dated May 28, 2021.

Earlier, the last date for encashment and redemption of National Prize Bonds of Rs. 25,000/- denomination was set May 31, 2021 while the deadline for Rs.15000/- denomination bonds was June 30, 2021.

The last date for encashment of Rs. 7500/- denomination bonds is December 31, 2021.

All the banks were further directed that branch and region wise consolidated data of cited denomination prize bonds held by them on last date shall be shared latest by October 1, 2021, as per the instructions stipulated in relevant CMD Circulars.

They were also instructed disseminate aforementioned instructions to all branches and concerned officials for information and strict compliance.