Prize Bond Having a view to mobilising domestic resources and providing incentive for the little savers, the government of Bangladesh introduced Bangladesh Prize Bond Scheme in June 1974. The bonds issued so far under this scheme are ‘bearer’ in nature and as these kinds of the holders are treated as the owners from the bonds. These bonds are actually government debt and on behalf in the government, bangladesh bank is responsible for entire management on the scheme. Prizebonds don’t bear any interest. But there’s a method of normal prize draw using a specific period of intervals and on the basis from the final results the prizes are given as per the rules set for bonds concerned. The bonds can also be purchased during the offices of Bangladesh Bank, branche on the authorised commercial and specialised banks, National Saving Bureau and also the write-up offices. A scheme for sale of prizebonds during the United Arab Emirates and UK was introduced in November 1979 and October 1980 through janata bank and sonali bank respectively.
The aboriginal affair of prizebond was of 10-taka denomination, which was alien in June 1974. Up to June 1995, 82 alternation of 10-taka prizebonds were put on auction and the accelerating net auction of the band stood at Tk 160 actor as of end June 1995. A absolute of 110 draws of these bonds were captivated on annual base beneath the individual accepted draw system. The prizes of the draws were: aboriginal cost – Tk 50,000 (one for anniversary series), additional cost – Tk 10,000 (one for anniversary series), third cost – Tk 1000 (four prizes for anniversary series), fourth cost – Tk 500 (four prizes for anniversary series), and fifth cost – Tk 100 (ninety prizes for anniversary series).