If you’ve ever searched for prize bond results and noticed that Rs. 7,500 and Rs. 15,000 draws stopped, you’re not alone. These two denominations were officially withdrawn from circulation by the Government of Pakistan, and later the redemption window was extended several times.

This article explains:

  • When Rs. 7,500 and Rs. 15,000 prize bonds were discontinued
  • Why the government took this step (the “real” policy reason)
  • What “withdrawn from circulation” actually means
  • What options bondholders had, and what the final deadlines were

Quick summary (for readers who want the short version)

  • Sale stopped immediately and no further draws were to be held for Rs. 7,500 and Rs. 15,000 bearer prize bonds after the withdrawal decision.
  • The move is widely linked to anti–money laundering and FATF-related transparency reforms, because bearer instruments can be held anonymously.
  • The redemption/conversion period was extended multiple times, with a final deadline of December 31, 2024 communicated through SBP BSC circulars and referenced Finance Division notifications.

What does “discontinued/withdrawn from circulation” mean?

When a prize bond denomination is withdrawn from circulation, it generally means:

  • It is no longer sold by banks/National Savings.
  • No new draws are held for that denomination.
  • Existing holders are given a window to encash, redeem, or convert under the notified procedure.

That is exactly what happened with Rs. 15,000 and Rs. 7,500.

Official timeline: when were Rs. 7,500 and Rs. 15,000 prize bonds discontinued?

1) The withdrawal decision (April 2021)

SBP Banking Services Corporation (BSC), Currency Management Department issued CMD Circular No. 1 dated April 30, 2021, referencing Finance Division notifications dated April 28, 2021, and clearly instructed that:

  • Rs. 15,000 and Rs. 7,500 prize bonds shall not be sold with immediate effect
  • No further draws of these denominations would be held
  • Bondholders had defined options to replace/encash through banking channels

2) Original last dates (2021)

In the same SBP circular, the original deadlines were communicated as:

  • Rs. 15,000: last date was June 30, 2021
  • Rs. 7,500: last date was December 31, 2021

3) Extensions and the final deadline (December 31, 2024)

Later, SBP BSC issued a circular dated October 02, 2024 confirming that Finance Division extended the last date further up to December 31, 2024 (this extension applied to multiple withdrawn bearer denominations including Rs. 7,500 and Rs. 15,000).

SBP’s own Withdrawn Prize Bonds FAQ also lists Rs. 7,500 and Rs. 15,000 among withdrawn denominations and shows December 31, 2024 as the last date for encashment, referencing the Finance Division notification numbers.

Practical note for your blog readers: by today (January 2026), the stated final deadline in these circulars has already passed.

Why did Pakistan discontinue Rs. 7,500 and Rs. 15,000 prize bonds?

The policy reason: transparency + anti–money laundering reforms (FATF context)

The most important underlying issue is that bearer prize bonds are anonymous—ownership belongs to whoever physically holds the bond (similar to cash). SBP’s own prize bond FAQ explains this “bearer” nature plainly.

Because bearer instruments can be transferred without identification, they can be misused for:

  • hiding wealth / undocumented economy
  • money laundering
  • terror financing (AML/CFT concerns)

Multiple credible business/news sources linked the discontinuation decision to addressing FATF-related concerns about corruption and money laundering. For example, Mettis Global explicitly reports this reasoning for discontinuing Rs. 7,500 and Rs. 15,000.

Even more strongly, in August 2025, Pakistan Today (Profit) quoted the Minister of State for Finance telling the National Assembly that the discontinuation of bearer prize bonds (including Rs. 15,000 and Rs. 7,500) was done in line with Pakistan’s commitment to FATF regulations and part of broader modernization/digitisation.

Important honesty point

Official SBP circulars are usually written in an administrative tone (process + dates). They clearly announce the withdrawal and procedures, but don’t always explain the “policy narrative” in a long paragraph. The FATF/AML rationale is best supported through the above reporting and official-policy statements cited.

What options did bondholders have?

SBP’s April 30, 2021 circular lists the main options for holders of withdrawn Rs. 15,000 and Rs. 7,500 bonds:

  • Conversion to Premium Prize Bonds (Registered) (i.e., registered instrument)
  • Replacement with Special Savings Certificates / Defence Savings Certificates
  • Encashment of face value via transfer to the bondholder’s bank account (cash payment not allowed)

These options match the broader direction: shift from anonymous bearer instruments toward documented/traceable channels.

What if someone missed the deadline?

SBP circulars and FAQs show December 31, 2024 as the last date for encashment/conversion/redemption.

However, in August 2025, a ministerial statement indicated the government may consider relief for the small remaining percentage of unredeemed discontinued bonds if verifiable applications are received.

So the safest public guidance is:

  • If someone still holds these bonds after the deadline, they should contact SBP BSC / National Savings and follow any new official notification (if issued).

Prize money claims: how long do winners have?

Readers also ask: “If my old bond won earlier, can I still claim the prize?”

SBP’s prize bond FAQ states prize money can be claimed within six years from the date of the relevant draw.

(For discontinued denominations, the redemption deadlines and claim procedures can interact in complicated ways—so it’s best to advise readers to follow SBP’s latest instructions.)

Which prize bond denominations are active now?

On the National Savings portal’s “Download Draws” section, the commonly listed draw results include Rs. 100, 200, 750, 1500 and Premium Prize Bonds (Registered) (Rs. 25,000 and Rs. 40,000).

This aligns with the overall shift: smaller bearer denominations continue (for now), while larger values are increasingly pushed toward registered forms.

Final words

PrizeBondPK.com provides draw information and search tools for public convenience. For official instructions, deadlines, forms, and policy updates, always rely on SBP BSC and Finance Division / National Savings notifications.

Useful official references

  • SBP CMD Circular No. 1 (April 30, 2021): https://www.sbp.org.pk/CMD/2021/C1.pdf
  • SBP CMD Circular (Oct 02, 2024 extension): https://www.sbp.org.pk/CMD/2024/C2.pdf
  • SBP FAQ (Withdrawn Prize Bonds – Bearer): https://www.sbp.org.pk/sbp_bsc/PrizeBond/FAQs-PBs%20-Forty-Thousand-English.pdf
  • SBP Prize Bonds FAQ (general, claim rules incl. 6-year period): https://www.sbp.org.pk/sbp_bsc/SBPBSC-PrizeBonds-FAQs.pdf
  • National Savings “Download Draws” page: https://savings.gov.pk/download-draws/
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