• Pakistan’s State Bank of Pakistan extends encashment, replacement, and conversion deadline for National Prize Bonds.
• The deadline is set for December 31, 2024.
• The extension applies to prize bonds in denominations of Rs40,000, Rs25,000, Rs15,000, and Rs7,500.

KARACHI: Holders of National Prize Bonds in Pakistan have been granted relief as the State Bank of Pakistan (SBP) extended the deadline for encashment, replacement, and conversion of specific prize bonds. The new deadline has been set for December 31, 2024.

The Finance Division announced the extension for prize bonds in denominations of Rs40,000, Rs25,000, Rs15,000, and Rs7,500. Initially set for June 30, 2024, the deadline has now been pushed to the end of the year, giving bondholders more time to complete their transactions.

In a circular to commercial banks, the SBP also instructed them to submit consolidated data on the specified prize bonds, categorized by branch and region, by January 2, 2025. The directive follows guidelines issued in CMD Circular No. 1 from April 2021.

Additionally, all commercial banks are required to surrender the specified bonds to their respective SBP Banking Services Corporation offices by January 31, 2025. This extension is intended to provide National Prize Bond holders with greater flexibility in managing their investments.

Prize Bond Schedule 2024 

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