STATE BANK OF PAKISTAN
SBP Banking Services Corporation (Bank)
Currency Management Department
____________________________________________________________________________________________________________________
Head Office, BSC House, I.I. Chundrigar Road, Karachi – 74000.
Phone: (92-21) 32455434 Fax: (92-21) 99221399
CMD Circular No. 1 April 30, 2021
The President / CEO
All Commercial Banks
WITHDRAWAL OF RS. 15,000/- AND RS. 7,500/- DENOMINATION NATIONAL
PRIZE BONDS FROM CIRCULATION
Dear Sir / Madam,
Please find attached Finance Division (Budget Wing), Government of Pakistan
Notifications No. F.16(1)BS /2021-750 and F.16(1)BS /2021-751 dated April 28,
2021, regarding conversion / redemption / encashment of Rs. 15,000/- and Rs.
7,500/- denomination National Prize Bonds, with immediate effect (copies
enclosed).
2. In this connection, following instructions are hereby issued for information,
guidance and meticulous compliance:
a) National Prize Bonds of Rs. 15,000/- and Rs. 7,500/- denomination shall not
be sold with immediate effect.
b) Cash payment for encashments of cited bonds is NOT allowed. However, the
bondholder(s) shall have the following options to replace / encash these
bonds:
1) Conversion to Premium Prize Bonds (Registered)
i. The Bonds can be converted to Rs. 40,000/- and Rs. 25,000/-
denomination Premium Prize Bonds (Registered) through the 16 field
offices of SBP Banking Services Corporation, and branches of 19
authorized commercial banks, list of which is available at
https://www.sbp.org.pk/sbp_bsc/PrizeBond/ConsolidatedListBranches
-PPB.pdf.
ii. The bondholder shall be required to submit a written request for
conversion of bearer bonds into Rs. 40,000/- and Rs. 25,000/- Premium
Prize Bonds (Registered) on the prescribed application form attached at
Annexure A.
iii. The bondholder shall also be required to submit prescribed application
forms for registration / purchase of Premium Prize Bonds as per the
procedure in vogue.
