Karachi: The State Bank of Pakistan (SBP) has extended the encashment and exchange deadline of the various monetary bonds in a bid to facilitate the masses, news sources reported. The new deadline for the same is September 30.
As per the official circular issued by SBP, the monetary bonds worth 15,000, 25,000, and non-registered 40,000 can be exchanged or converted within the new extended deadline, after which the bonds will be of no monetary value. The notice also reads that the encashment cum transfer can only be done through the account. For this reason, the SBP has directed the banks to issue new orders and instructions.
The federal government granted a four-month extension after the figures revealed that a large number of prize bonds have not been returned or encashed. The central bank has also issued instructions that all commercial banks will share branch and region-wise consolidate data of the said bonds held by them with SBP on October 1- after the expiration of the deadline. Previously, SBP decided to discontinue non-registered prize bonds worth 7,500, 15,000, 25,000, and 40,000 to registered premium 25,000 and 40,000 bonds through designated SBP centres and 19 commercial bank branches.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
