State Bank of Pakistan (SBP) has issued a reminder to the public regarding the last date for encashment or exchange of prize bonds.
In October this year, the central bank issued a circular announcing an extension for the encashment and exchange of prize bonds worth 7500, 15000, 25000, and 40000 rupees until December 31. According to the announcement, all branches have been advised to accept requests for encashment, exchange, and redemption of the mentioned bonds until December 31, 2024.
Furthermore, banks are required to submit data on the existing stock of prize bonds at their branches to the National Bank of Pakistan (NBP) for record-keeping.
In the latest reminder, SBP has informed the public that the final date for submitting the withdrawn prize bonds is December 31, 2024. People are urged to contact banks in a timely manner to avoid any inconvenience.
The circular also mentioned that it is advised that all commercial banks should submit the prize bonds to the relevant SBP BSC office by January 31, 2025.
