Govt to discontinue Rs25,000 prize bonds.

ISLAMABAD -- The federal government has decided to discontinue Rs25,000 denomination prize bonds.

Sources said the move is aimed at addressing concerns of the Financial Action Task Force (FATF) that has put Pakistan on its grey list over reported failure to check money laundering and terror financing.

In the first phase, the Rs25,000 denomination bonds will be converted into premium bonds with their registration to start by December-end.

Afterward, the Rs15,000 and Rs7,000 denomination prize bonds will be registered.

The sources...

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