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It is proposed to convert Rs. 25,000 prize bonds into prime bonds

The Finance Ministry has proposed to the government to convert Rs 25,000 prize bonds into prime bonds, which are aimed at fulfilling another Phat condition, sources told 24 News HD TV channel. Of

The Finance Ministry also proposed to start registration of Rs 25,000 prize bonds as soon as possible. Mandatory provision of CNIC number and filling up of State Bank of Pakistan form was also suggested to avail the prize money.

Sources told 24News HD TV channel that the development was aimed at allaying the concerns of the Financial Action Task Force (FATF) which had led Pakistan to fail to investigate money laundering and terrorist financing. Has been added to your gray list.

Rewards will not be given in cash on all denominations but will be transferred to the bondholders’ accounts.

Earlier, the government had closed reward bonds worth Rs 40,000 to check the practice of raising illicit money through these bonds as per Fatif’s guidelines.

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