KARACHI – In a major development, the State Bank of Pakistan has finally selected new designs for the currency notes.
SBP Governor Jameel Ahmed revealed it while addressing a press conference regarding policy rate. He said the process to introduce new currency notes in Pakistan is underway and the designs have been approved.
He did not reveal which designs have been selected but hinted that these were made by an international expert.
The governor said the printing of the currency notes with new designs will be started after getting approval of the federal cabinet.
Earlier this year, the central bank chief said it is common practice for SBP to introduce new banknote series every 2 decades to maintain integrity of notes and ensure that they reflect the latest advancements in technology, design, and security features.
Last year, State Bank rolled out potential designs for the new currency notes, which were selected through a public art competition. The competition received numerous submissions, and the winners were recognized for their creative contributions. Among winners were Dr. Shery Abidi, Haroon Khan, Syed Fawad Hussain, Memoona Afzal, Hadiya Hassan, and Noureen Aslam, who won first place. Second place was awarded to Mirza Sufiyan, Aynee Zahra, and Karim Muhammad.
These designs went through a thorough evaluation process by a committee of experts. The SBP has now shared the shortlisted designs with international designers who are working in collaboration with the central bank to finalize the new currency notes.
This initiative is expected to enhance the security and aesthetic appeal of Pakistan’s currency, further aligning it with international standards.
