The State Bank of Pakistan SBP has decided to discontinue the prize bond of Rs 25,000 according to the 27th point action plan of Financial Action Task Force (FATF). As per details of the SBP now prize the Rs 25,000 prize bonds will be drawn in phases. This prize bond is decided to convert into prime bonds. The State Bank of Pakistan will start registration process soon. The prize bond holders will have to submit a CNIC copy and a form for registration. The SBP will directly transfer the prize bond of Rs 25,000 to the holder’s account.
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