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prize bonds

Last date to encash withdrawn prize bonds extended

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prize bonds

KARACHI: The State Bank of Pakistan (SBP) on Monday said that it extended the encashment of prize bonds up to June 30, 2023. The federal government has given another opportunity to the public to get the withdrawn prize bonds of Rs7,500, Rs15,000, Rs25,000 and Rs40,000 redeemed/encashed by June 30, 2023. Earlier, the government had fixed … Read more

Investment in registered prize bonds surge 140%

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prize bonds

KARACHI: The investment in registered prize bonds has surged over 140 per cent by December 31, 2021; following the drive of documentation initiated by the government. According to the official data released by the Central Directorate of National Savings (CDNS), the investment in registered or premium prize bonds sharply increased to Rs54.92 billion by the … Read more

Bank deposits fall over Rs1tr in January

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SBP

KARACHI: The deposits of the banking system have dropped over Rs1 trillion in January 2022 after declining from a record high of around Rs21 trillion in December 2021, according to the data released by the State Bank of Pakistan (SBP). The total deposits of the banking system fell to Rs19.95 trillion by the end of … Read more

Premium prize bonds profit rates increased to 1.86%

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prize bonds

KARACHI: The rate of profit on premium prize bonds having denominations of Rs25,000 and Rs40,000 has increased to 1.86 per cent from the existing 1.79 per cent, according to the Finance Division on Wednesday. The State Bank of Pakistan (SBP) has also issued a circular to inform the change of rate to all the presidents … Read more

Bearer prize bonds to expire by month-end; Rs28 billion bills still in circulation

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prize bond

KARACHI: The bearer prize bonds of high denomination will expire by the end of the current month but unregistered securities worth billions of rupees are still in circulation. The government has decided to withdraw the bearer bonds with denominations of Rs7,500, Rs15,000, Rs25,000 and Rs40,000 and set a deadline of December 31, 2021 to exchange … Read more

Prize bonds witness Rs332 billion withdrawal in a year

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KARACHI: The bearer prize bonds witness a massive withdrawal of Rs332 billion during the last one year; following the government’s initiative to document the saving schemes. According to the latest statistics released by the State Bank of Pakistan (SBP) on Thursday, the investment in bearer prize bonds trimmed to Rs332 billion by September 2021, compared … Read more

The government has extended the period for cashing prize bonds

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prize bonds

The federal government has extended the period for cashing prize bonds till December 31. The Ministry of Finance has issued a notification to extend the date for cashing prize bonds. According to the notification, prize bonds of Rs 15,000, Rs 25,000, and Rs 40,000 can be cashed till December 31. Remember that the last date … Read more

Investment in premium prize bonds climbs 132%

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Prize Bonds

KARACHI: The investment in premium prize bonds has surged 132 per cent to over Rs44 billion during the fiscal year 2020/21, according to the official data released on Monday. The investment in premium prize bonds with the denominations of Rs25,000 and Rs40,000 increased to Rs44.13 billion by the end of June 30, 2021, compared with … Read more

Tax collection from prize bond winners grows 8% to Rs4 billion

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Tax authorities

KARACHI: The income tax collection from the winners of the prize bonds grew 8 per cent to reach Rs4 billion during the fiscal year 2020/21, official sources said on Monday. The sources at the Regional Tax Office (RTO) Karachi, a revenue collecting arm of the Federal Board of Revenue, said the income tax collection from … Read more

Investment in premium prize bonds doubles to Rs38.4 billion

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Tax authorities

KARACHI: Investment in premium prize bonds registered 100 per cent growth; following the ban on the bearer prize bonds and initiative of the government to comply with the Financial Action Task Force (FATF) conditions. According to statistics released by the State Bank of Pakistan (SBP) on Monday, the investment in registered prize bonds worth Rs25,000 … Read more

Government To Discontinue 15,000 And 7,500 Bonds

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Government To Discontinue 15,000 And 7,500 Bonds

Another condition of the Financial Action Task Force (FATF) has been met. The government decided to discontinue 15,000 and 7,500 bonds. According to the details, the federal government has decided to scrap 15,000 and 7,500 bonds. Investors have till June 2021 to cash 15,000 bonds. Fifteen thousand prize bonds will be considered trash from July … Read more

Government discontinues sale of Rs25,000 prize bonds

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prize bonds

On Thursday, the Federal government has stopped the sale of Rs25,000 bonds, the Finance Division said in a notification.

According to the details, the step has reportedly been taken to address the Financial Action Task Force’s concerns over money laundering and terror financing.

It has reportedly been done to address the Financial Action Task Force’s concerns over money laundering and terror financing.

Moreover, the investors after May 31, 2021, will not be able to encash or redeem the Rs25,000 prize bond.

Cash payment for encashments of cited bonds is not allowed. However, the bonds can be converted to Premium Prize Bonds, Special Saving Certificates, Defence Saving Certificates, or encashed at face value.

The conversion to certificates can be done through 16 field offices of the State Bank of Pakistan or at branches of six authorized banks

[embedpost slug=”govt-to-discontinue-rs25000-prize-bonds-to-meet-fatf-requirements/”]

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Govt To Discontinue Rs25,000 Prize Bonds To Meet FATF Requirements

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Govt To Discontinue Rs25,000 Prize Bonds To Meet FATF Requirements

The government of Pakistan has decided to discontinue Rs25,000 Prize Bonds to meet financial action task force (FATF) requirements. Sources said that in the first phase, 25,000 prize bonds will be converted into prime bonds. In this regard, registration of prize bonds will start at the end of this month. According to sources, after 25,000, … Read more

Prize Bond List 2020 – Check Online Prize Bond Draw list

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Prize bond list 2020

Bolnews (Prize bond list 2020) offering all prize bond list & lucky draw lists online with features to save and then search past draw result on a future visit. According to National Savings, Prize Bonds is gold investment and are bearer type of security available in the denominations of Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000,Rs.25000 and Rs.40,000. … Read more

750 Prize Bond Winner list: Full Winner List of Rs 750 Prize bond

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Rs 750 Prize Bond list 2020

The balloting of prize bonds Rs.750/ each was held Today in Muzaffarabad on July 15th. The Draw number is 83.  The Directorate of National savings Rs. 750 Prize bond Muzaffarabad 15.07.2020 Draw #83 list Result Check online today by bolnews. This is counting Number 83# common draw serial till today. 750 Prize Bond Winner List … Read more

Prize Bonds – Last date to encash Rs 40,000 is 31st March

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State Bank of Pakistan has released instructions related to the withdrawal of the RS 40,000 denomination National Prize Bonds.

State Bank of Pakistan has released instructions related to the withdrawal of the RS 40,000 denomination National Prize Bonds. The statement has been issued on February 19 and was addressed to all banks’ CEOs and presidents. It was notified in the statement that the last date for the replacement or the conversion of those bonds … Read more

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