KARACHI – The State Bank of Pakistan (SBP) used to introduce new banknote series after every fifteen to twenty years to secure the integrity of banknotes.
In line with the established practice, the central bank initiated the process to launch the new currency notes in January 2024 by asking people to submit designs.
Later in July 2025, SBP Governor Jameel Ahmed confirmed that designs had been finalised but he did not reveal the designs.
Now people are waiting for the launched of new banknotes.
What’s the Update?
The State Bank of Pakistan (SBP) will submit the final designs to the federal government which will take the approval from the cabinet.
The process of issuance of new banknote series involves a number of steps and stages and thus requires meticulous planning and coordination amongst multiple stakeholders.
According to the central bank, it takes 2 to 3 years to launch a new banknote series. However, the SBP in a statement issued in January 2024 announced that it intended “to complete the process within the next 2 years”.
In light of the above mentioned, the SBP is expected to unveil the new currency notes next year, 2026.
Furthermore, the existing banknote series will remain in circulation even after the issuance of new series.
Any decision on withdrawal of the existing series from circulation will be taken in a gradual and phased manner, once the new banknotes are issued and are in circulation in sufficient quantities, the central bank said.
