INSUBCONTINENT EXCLUSIVE:
Islamabad: The government has banned the sale of old Rs40,000 Prize Bonds from June 25, urging the bearers to get their bonds registered
till March 31, 2020.After the deadline the bonds will become useless since they would no longer be included in draws.The government has
also introduced a procedure to help bearers encash or convert their bonds to saving certificates .Bearer Prize Bonds of Rs
40,000 denomination can opt for any of the following opportunities to convert their bonds:-Conversion of Rs
40, 0000 Bearer Bond to Premium Prize Bonds (Registered):Rs
40,000 Bearer Prize Bonds can be converted to Premium Prize Bonds (Registered) through 16 field offices of SBP Banking Services Corporation,
and authorized branches of six commercial banks i.e
National Bank of Pakistan, United Bank Limited , MCB Bank Limited, Allied Bank Limited, Habib Bank Limited and Bank Alfalah
40,000 Bearer Bond to Special Savings Certificates (SSC) /Defence Savings Certificates Rs
40,000 Bearer Prize Bonds holder can avail the opportunity to replace the bonds with SSC/DSC through the 16 field offices of SBP Banking
Services Corporation, authorized commercial banks and National Savings Centers.Cash Payment against encashment of Rs
40,000 Bearer Bonds in bond holder bank account: In case the bond holder desires to encash the bond, the encashment proceeds would be
credited to the specified bank account of the holder.TheIndianSubcontinent has not verified the content of the source
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