Bond strained his lower back while bowling during a one-day match against Pakistan on Sunday in an international triangular series.
New Zealand Cricket Board chief executive Martin Snedden said Bond's injury did not appear to be improving quickly and he would take no further part in the series
"It makes sense for him to return home where he can be professionally diagnosed and treated," Snedden said.
New Zealand thrashed Pakistan by seven wickets in their first game in the series, but lost the match against Sri Lanka on Tuesday by five wickets.
