Govt issues rules for digital prize bonds
Business
As per the notification, the transfer of ownership and pledging of the bonds will not be allowed
ISLAMABAD (Dunya News) – The Ministry of Finance has allowed unlimited investment in digital prize bonds.
The Ministry of Finance has issued a notification regarding the registered draft rules for the digital prize bonds.
According to the notification, transactions for these bonds would be conducted through a mobile app. Taxes would be levied on the prize money, and Zakat would not be applicable.
The Ministry of Finance stated that there would be no maximum limit for investment in digital bonds. Every adult Pakistani citizen would be eligible to invest in these bonds.
As per the notification, the transfer of ownership and pledging of the bonds would not be allowed.
In the event of the investor's death, the amount would be paid to the legal heirs. The amount of the deceased's bonds would be paid according to the succession certificate.
