{
  "id": 249802,
  "title": "SBP tells banks to settle prize bond sales daily",
  "url": "https://urgent.news/2026/08/07/sbp-tells-banks-to-settle-prize-bond-sales-daily",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-07T03:49:33.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2021188/sbp-tells-banks-to-settle-prize-bond-sales-daily"
  },
  "original_language": "en",
  "account": "The State Bank of Pakistan (SBP) has issued a directive to banks, mandating that they must settle all Premium Prize Bonds (PPB) sale transactions on the same day. This decision comes after the bank reviewed the current process for reporting PPB sale transactions and determined the need for modifications. According to a circular issued by the SBP on Thursday, the implementation of this new settlement mechanism will involve reporting of PPB sale transactions through the Data Acquisition Portal (DAP) in accordance with the stipulated timelines.\n\nThe SBP Banking Services Corporation (SBP BSC) will be responsible for debiting the account of the bank based on the reported sale amount of PPBs on a daily basis. Failure to settle the proceeds of sale transactions on the same day could result in the bank being liable to pay use of funds for the duration of the delay. This delay usage fee will be calculated at the SBP overnight reverse repo (ceiling) rate applicable on each day during the delay period. The SBP has stated that the Karachi office will be responsible for the calculation and recovery of these delay charges, deducting them from the bank's account by crediting their Central (Non-Food) Account.\n\nFurthermore, the circular outlines potential liabilities for commercial banks in instances where profits or prize money are paid erroneously due to various reporting errors, such as non-reporting, delayed reporting, or misreporting of sale, encashment, or transfer transactions by the bank. The concerned bank will be held responsible for the entire gross amount mistakenly paid, with potential adjustments for income tax, if applicable.",
  "summary": "https://www.dawn.com/news/2021169",
  "key_points": [
    "State Bank of Pakistan mandates daily settlement of Premium Prize Bonds sales.",
    "Banks must report PPB transactions via Data Acquisition Portal (DAP).",
    "Delay fees apply for settlements not made on the same day."
  ],
  "editors_take": "Banks now face stricter penalties for delays in settling Prize Bond sales, and may be liable for erroneous prize payouts, adding to their operational and financial responsibilities.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}