ISLAMABAD – The federal government is likely to discontinue Rs25,000 prizebond to meet conditions of the Financial Action Task Force (FATF) to comeout of its grey list.

Local media reports say the State Bank of Pakistan (SBP) would startregistration of the prize bonds from December end.

Owners of the Rs25,000 prize bonds would also be made bound to inform theSBP before the sale of the bonds. The bonds however can be converted intopremium prize bonds through registration.

The government is making efforts to document the investment in prize bondsand saving certificates.

Earlier this year, the SBP managed to almost complete the documentation ofunregistered prize bonds with Rs40,000 denomination, logging Rs256 billionworth of certificates since June 2019.