The National Savings Directorate has completed preparations for the launch of modern digital prize bonds in Pakistan. According to sources, arrangements for the launch of digital prize bonds have been completed including development of state-of-the-art mobile application for the issuance of these bonds. The Pakistan government has planned to issue bonds in denominations of Rs500, Rs1000, Rs5000, and Rs10,000.

Digital prize bonds will be available to National Savings account holders, with an expected investment ranging between Rs800 billion to Rs1000 billion. The rules for digital prize bonds have been forwarded to the Cabinet Committee on Legislative Affairs for approval. Sources claim that these bonds will be Pakistan’s most secure investment, as they cannot be counterfeited or stolen. Additionally, the concept of anonymous bonds will be eliminated, ensuring compliance with the Financial Action Task Force (FATF) framework.

Credit: Independent News Pakistan (INP)