The State Bank of Pakistan (SBP) has selected the design for a new series of currency notes, SBP Governor Jameel Ahmad announced during a press conference on Wednesday in Karachi. The announcement came alongside the central bank’s monetary policy decision to keep the benchmark interest rate unchanged at 11 percent.
According to the governor, the design was created by an international expert and chosen as part of the SBP’s broader modernization efforts. However, he emphasized that the new notes will only be introduced after formal approval from the federal Cabinet.
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“The process of introducing new currency notes is underway. A design has been selected, and work will begin after Cabinet approval,” said Governor Jameel Ahmad.
No Public Reveal Yet
While anticipation grows, the SBP has not yet revealed the finalized designs to the public. The central bank clarified that the currency image circulating online is from an art competition held previously and does not represent the official note design.
The redesign marks a significant step for the SBP, aiming to enhance currency security features and align Pakistan’s notes with modern design standards. The new series is expected to incorporate state-of-the-art anti-counterfeiting measures, improved durability, and contemporary aesthetics.
Part of Broader Reforms
This move is part of broader reforms by the SBP to modernize the financial system and restore confidence in physical currency. Analysts suggest that the redesign could help deter counterfeiting, increase public trust, and potentially reduce reliance on outdated denominations.
Though a rollout timeline has not been provided, it is expected that the SBP will gradually phase in the new notes once Cabinet approval is secured, followed by public awareness campaigns.
