SBP extends Rs40,000 prize bond encashment deadline to Dec 2021 ...palestine

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SBP extends Rs40,000 prize bond encashment deadline to Dec 2021
The State Bank of Pakistan has extended the deadline to encash Rs40,000 prize bonds by one year. You now have until December 31, 2021 to redeem these prize bonds. The government discontinued these bonds in June 2019, but allowed people to encash them by March 31, 2020. The deadline was extended till December 2020 before being extended by another year. The new policy is part of a drive to curb money laundering and tax evasion, one of the conditions Pakistan has to meet to exit the grey list of the Financial Action Task Force, a global watchdog on illicit money that is used in financing of terrorism and drugs business. Since prize bonds work like cash and are used by tax evaders to wash

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