State Bank of Pakistan has decided to introduce new currency notes of all denominations. The new notes will be printed under international security features, the new notes will be introduced with color, serial numbers, design and high security features, the framework for the design of all the new notes has been started and is expected to be completed by March.
State Bank of Pakistan New Currency Notes color
state bank of Pakistan new currency notes 2024 State bank of Pakistan old currency notes last date will be updated here as it declared by SBP. The State Bank of Pakistan has begun the process of designing and issuing new series of notes of all current denominations.
According to State Bank, it is an established practice of central banks to introduce a new series of bank notes every 15 to 20 years. Generally, it takes 2 to 3 years to launch a new bank note series. I intend to complete this process. Even after the issuance of the new series, the existing banknote series will remain in circulation, any decision to withdraw the existing series from circulation will be taken gradually and in a phased manner.
State Bank of Pakistan New Currency Notes Design Art competition 2024
A competition has been announced for the new design of currency notes. In this regard, State Bank has invited local artists, designers and students to participate in the design competition for new notes. Local artists, designers and students can send their designs to State Bank till March 11. Cash prizes will be awarded to the top 3 designs for 7 different denominations in circulation. The successful designs will be decided by currency note experts, after which the final design will be approved by the cabinet.
The process of issuance of new currency notes of all denominations will be completed in the next 2 years, however, the legal status of all current design currency notes will also remain intact and will be gradually abandoned.
State Bank of Pakistan New Currency Notes serial numbers
state bank of Pakistan new currency notes branches will be mentioned here as it is announced. New currency notes with new security features are being issued in Pakistan to replace currency notes of all denominations.
State Bank of Pakistan New Currency Notes design and high security features
Fake notes of 1000, 5000 are circulating in the market due to which citizens and financial institutions are facing huge losses.
Why was the latest currency note with new security features announced?
Even in the meeting of the Senate Standing Committee on Finance held last month, the State Bank officials could not identify the fake note of Rs 5,000.