The State Bank of Pakistan (SBP) has reportedly decided to discontinue the Rs. 25,000 prize bonds, ARY News reported.
According to reports, this move is based on the 27-point action plan of the Financial Action Task Force (FATF) to strengthen Pakistan’s anti-money laundering and terror financing regime.
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The withdrawal of the prize bonds will be in phases. In the first phase, the Rs. 25,000 prize bonds will be converted into prime bonds for encashment, the registration process of which will commence later this month.
In this regard, all prize bondholders will be required to submit a copy of their CNICs with a special form issued by the SBP.
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Moreover, the prize on Rs. 25,000 bonds will be transferred directly to the holders’ account instead of doling it out in cash.
The SBP had also discontinued the fresh issuance of the Rs. 40,000 prize bonds in February 2019.
Very good working 👍. I’m appreciate you’re 25,000 Prizbond Government policy.
directly Prizbond holder’s cashback in account, thanks
Regards 🤲 Abdul Rehman Bhatti at Lahore
Good effort. Also demonitize Rs. 5000 bill. It is a heaven for corrupt Mafia.
‘Heaven’ or ‘haven’!!?
Haven is the word best suited to be used here. It means a refuge.
If govt once decides to demonitize Rs. 5000 bill you will find ques of people out side all the banks to deposit the cash. By this way the economy shall be registered.
Good decision…. Is Warm welcome.. This will be good for stop corruption and save government money
Ab Jisko 40K 25K Ki Prize Bond Chahyeh Hoga, New Wo KAISE Lega
ڈالر مافیا کا ایک اور حربہ اپنے کاروبار کو چمکانے کے لئے ۔
Very nice
This is very good point help the people.i really appriciate this work.
The withdrawal of the prize bonds will be in phases. In the first phase, the Rs. 25,000 prize bonds will be converted into prime bonds for encashment, the registration process of which will commence later this month.
he withdrawal of the prize bonds will be in phases. In the first phase, the Rs. 25,000 prize bonds will be converted into prime bonds for encashment, the registration process of which will commence later this month.
Ok
jis ko sale nahi kerna ho wo kia karay means prime bond ma convert kernay k liay
What happened to those who are living abroad & kept the prize bonds in locker & don’t have access to the prize bonds as they can’t travel due to Covid restrictions?
The $ doler Will now again goes to 170 rupees as majority of people purchases foreign currency istead of registered bond or deposit in banks. Also 5000 denomination note have no future because of threading from govt. Official to be demonotrize in future. One piece of 100 $ note is much better and secure than 16 notes of 1000 rupees Pakistani.
Too much bad idea
Dollar value will be increase by taking this action
Do u think money changer will accept prize bond which is about to discontinue and will cause himself to be highlighted in the system? No wise money changer will do that because the only way to change these bonds is through SBP or banking channel
In my opinion, the government took alot of steps wrongly. Due to these steps the banks are suffering. In my opinion when people kept money in banks it’s mean this money is in the pocket of government. And Government can use these money in their projects. So in this way the government don’t need of loan on high interest from other countries. The government have to en encourage people to keep their money in banks instead of home and some profit to people on their cash to peoples
CONCLUSION
MORE CASH OF PUBLIC IN BANK MORE CASH IN GOVERNMENT ‘S POCKET. AND THE GOVERNMENT USE THIS CASH IN THEIR PROJECTS.
good yaar
Good effort 👍
Today i went to state bank (Peshawar), and they told me that the news about discontinue of 25000 prize bonds is fake news, there is no such any official announcement about discontinue of 25000 prize bond, from State Bank Of Pakistan.
State Bank Of Pakistan has not as yet issued any such notification however there are plans for this decision.