Pakistan Set to Launch Digital Prize Bonds

ISLAMABAD: The National Savings Directorate is set to launch state-of-the-art digital prize bonds across the country for the first time, a move that is likely to revolutionize safe and clear investment opportunities in Pakistan.

According to sources, state-of-the-art arrangements, including the development of a dedicated mobile application for issuing and managing these bonds, have been completed. This app will facilitate easy access and management of digital prize bonds for account holders.

Under this initiative, the government will launch digital prize bonds in Rs500, Rs1,000, Rs5,000 and Rs10,000 denominations. Sources said the expected investment volume through these digital bonds would be between Rs800 billion to Rs1,000 billion.

Digital prize bonds have the following key features:

• Only for National Savings account holders.
• Safe from counterfeiting or theft, they are highly secure.
• No more anonymous ownership of bonds as per the guidelines laid down by the Financial Action Task Force (FATF) Working Group on Bond Transparency;

According to the sources, however, rules and regulatory framework for issuance of digital prize bonds has been sent to the Cabinet Committee on Legislative Affairs (CCLA) for approval. Upon sanction, the bonds will be the safest and the most trusted instrument of investment in the country.

Digital prize bonds will be a pivotal game-changer toward streamlining Pakistan in this current modern era through a paperless digital financial era system.