Islamabad, Mar 9, 2025: Unlike conventional prize bonds, which are bearer instruments, the digital bonds will be registered in the purchaser’s name.
This registration mechanism significantly lowers the risks of theft, loss, or fraudulent use. Additionally, officials believe that transitioning to digital prize bonds will deter their use in unreported financial activities, thus improving financial accountability.
Paperless Transactions and Cost Reduction
Shifting to digital transactions will cut administrative expenses related to printing, storage, and logistics.
A senior finance official stated that this initiative is part of the government’s strategy to modernize financial services and integrate undocumented transactions into the formal economic framework.
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“This move will make all transactions secure and traceable, marking a significant step toward greater financial transparency,” the official remarked.
How to Purchase Digital Prize Bonds?
Pakistani citizens above the age of 18 will be able to purchase digital prize bonds via:
- National Savings Mobile App
- Authorized CDNS channels
The purchase amount will be deducted directly from the buyer’s linked bank account or CDNS savings account.
Prize Draws and Taxation
- Prize winnings will be subject to tax but will remain exempt from Zakat deductions.
- The Ministry of Finance will decide the prize amounts for each draw, which will take place quarterly or as scheduled by the government.
- The CDNS will announce the draw schedule annually, and winnings will be credited directly to the winner’s linked account.
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Nominee and Inheritance Options
Buyers can nominate a beneficiary at the time of purchase.
If legal heirs submit a succession certificate, they will receive the investor’s principal amount and winnings.
For claims below Rs500,000, the nominee will receive the amount without additional documentation.
Moreover, the digitization of prize bonds aims to modernize financial transactions, curb illicit money flows, and enhance the government’s financial accountability efforts.
