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SBP extends deadline for prize bond encashment

SBP extends the deadline for prize bond encashment.

As per the announcement made by the State Bank of Pakistan (SBP) on Thursday an extension in the deadline for encashment, conversion, and redemption of prize bonds of denominations of Rs15,000, Rs25,000, and Rs40,000.

“In this connection, it is informed that Finance Division, Government of Pakistan has extended the last date for encashment/replacement/conversion of Rs. 40,000/-, Rs. 25,000/- & Rs. 15,000/- denomination National Prize Bonds (bearer) up to December 31, 2021,” read the SBP notice.

“Accordingly, all banks are advised to accept requests for encashment/conversion/redemption of cited denominations of NPBs from the general public till December 31, 2021. Further, the banks shall submit branch / region-wise consolidated data of cited denomination prize bonds held by them on the last date i.e. December 31, 2021, latest by the next working day i.e. January 4, 2022,” SBP stated.

The Finance Division, Government of Pakistan had extended the deadline to September 30, 2021, back in May.

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