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KARACHI: The State Bank of Pakistan (SBP) has decided that banks will settle all Premium Prize Bonds (PPBs) sale transactions on the same day, said a circular issued on Thursday.
The SBP has reviewed the prevailing mechanism for reporting PPB sale transactions and decided to make changes to it.
“The settlement mechanism will involve reporting of sale transactions of PPBs through DAP (Data Acquisition Portal) as per the prescribed timelines,” said the circular.
The SBP Banking Services Corporation (SBP BSC) will debit the account of the bank based on the amount of sale reported by the bank concerned on a daily basis.
