KARACHI: Investment in registered prize bonds has witnessed significant growth of 52 percent owing to attraction of regular profit and prizes as well.
According to National Savings, it has issued prize bonds worth Rs5.78 billion by August 2018 as compared to investment in such financial instruments of Rs3.8 billion by August 2017.
The Central Directorate of National Savings (CDNS) initiated the registered prize bonds scheme called “Premium Prize Bonds (Registered)” parallel to the National Prize Bonds Scheme.
Contrary to the National Prize Bonds (bearer), the Premium Prize Bond is a registered prize bond which is issued in the name of registered investor.
The investor gets a six monthly profit on investment at a rate notified by the Government of Pakistan from time to time in addition to eligibility for prize money in quarterly draws, subject to compliance to shut period requirements.
The total investment in all unregistered denomination prize bonds have increased to Rs869 billion by August 2018, according to data released by State Bank of Pakistan (SBP) on Tuesday.
The investment in unregistered bonds has increased by 14 percent, when compared with the investment of Rs761 billion by August 2017.