Islamabad, March 9, 2025: The government is preparing to introduce digital prize bonds, which will be transacted through a mobile application and credited directly to linked bank accounts or Central Directorate of National Savings (CDNS) accounts at the time of purchase. The initiative aims to enhance security, transparency, and economic documentation while reducing the risks associated with theft, loss, or damage. Additionally, the shift to a digital system is expected to cut printing and logistical costs.
Initially, the government will issue digital prize bonds in denominations of Rs500, Rs1,000, Rs5,000, and Rs10,000, with additional amounts to be introduced as needed. These bonds will be available for purchase by adult Pakistani citizens through the National Savings mobile app or other approved CDNS channels, with payments made via linked bank accounts or savings accounts. Unlike traditional prize bonds, digital bonds will be registered under the buyer’s name, minimizing the risk of fraud and unauthorized transfers.
Prize money won through the digital bonds will be taxable but exempt from Zakat. The prize draws will be conducted quarterly, with schedules announced at the beginning of each calendar year. Winnings will be credited directly to the investor’s linked account, eliminating the need for manual redemption. Investors will also have the option to nominate beneficiaries at the time of purchase, with the flexibility to modify or cancel nominations later. In the event of the investor’s demise, the original bond value and any prize money will be transferred to legal heirs based on a succession certificate. If the total amount is Rs500,000 or less, it will be paid to the nominated person.
By transitioning to a paperless system, the government aims to modernize investment opportunities, enhance financial inclusion, and promote digital transactions as part of Pakistan’s evolving economic landscape.