Prizes on unpurchased bonds

Published Aug 24, 2013 08:48am

All bonds in a series, not the ones actually sold out, compete for prizes. They include un-issued bonds (still in State Bank coffers) and unsold bonds with banks and savings centres.

How could the banks be stakeholders in draws without actually buying any bond? The computer programme should be so redesigned that each draw is confined only to the bonds actually sold out.

It should not be difficult to gather data of bonds actually sold out from the savings centres and banks.

AMJED JAAVED Rawalpindi Cantt

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Comments (1) (Closed)


Saad(DXB)
Aug 25, 2013 02:36am

It is well known that staff of Banks as well as National Savings Centers encash the unsold bonds for any prizes won, in the names of their friends and family. One of my distant relatives openly used to boast about it.. He used to work for 'Qaumi Bacchat'