KARACHI – State Bank of Pakistan on Monday decided to print new currency notes of all denominations, in the latest bid to end corruption and ensure transparency.

In a statement, the central bank said the new currency notes will feature new designs, serial numbers, and latest security features.

SBP Governor Jameel Ahmed said the currency notes with new design and features will be launched as complaints related to fake currency notes saw a major increase.

Pakistan New Currency Notes Update

State Bank chief said the central bank has started the framework of new currency notes.

Jameel Ahmad was of view that new currency notes would be printed on material that would incorporate latest International Security Features to enhance security of legal tender.

Earlier, Pakistani senators pushed for a ban on the Rs5,000 currency note. A resolution was landed in the Upper House of Parliament seeking a ban on the highest denomination over corruption, terrorism, and smuggling.

It was reported that Rs5000 currency notes Rs2 trillion were not in circulation and were stored in safe deposit.

This is a developing story, and is being updated…