Pakistan Introduces Digital Prize Bonds: Key Details

The Finance Division has launched digital prize bonds as part of a shift towards a paperless system, aiming to reduce printing and logistical costs. These bonds will be accessible via a mobile app and linked to bank accounts or CDNS accounts.

Key Features of Digital Prize Bonds

? Denominations
Available in Rs500, Rs1,000, Rs5,000, and Rs10,000.

? Investment Limit
No maximum limit on investment.

? Taxation & Zakat
? Taxable prize money
? Exempt from Zakat
? Bonds registered under the buyer’s name for security

? Eligibility & Purchase
? Available to adult Pakistani citizens
? Purchase via National Savings mobile app or CDNS channels
? Payments through linked bank or savings accounts

? Prize Money Disbursement
? Winners will receive prize money directly into their linked accounts
? Quarterly draws will determine winners

? Draw Schedule & Nominations
? Annual draw schedule to be announced at the start of each year
? Investors can nominate beneficiaries and modify/cancel nominations anytime

? Inheritance Policy
In case of bondholder’s death, the principal amount and prize money will be transferred to legal heirs upon presentation of a valid succession certificate.