SBP completes new banknotes' design, printing awaits Cabinet approval

New currency note designs are reportedly being introduced to modernise Pakistan’s currency system
An undated image of Pakistani currency. — Canva
An undated image of Pakistani currency. — Canva 

In a big move to prevent banknote counterfeiting, the State Bank of Pakistan (SBP) has finalised the design process for the new currency notes ahead of their rollout in the country.

The completion of the new banknote designs was brought to light by SBP Governor Jameel Ahmad during a press briefing on Wednesday.

The new designs, developed by an international expert, are reportedly being introduced to modernise Pakistan’s currency system, with the SBP governor stating: “We’ve completed the design selection process, and the next phase will begin once we receive final approval from the Cabinet.”

The new banknotes' printing, slated to be carried out by the central bank, is pending Cabinet approval, BrandSynario reported.

While the new bank notes' arrival has caused a buzzy stir among citizens eager to get their hands on them, details regarding their exact launch timeline are yet to be provided by SBP. The central bank, however, has assured that insights into the new banknotes' designs and release schedule will be communicated to the public following Cabinet approval.

It's worth mentioning that images circulating online in the name of newly updated designs are from a previous SBP art competition.

In addition to minimising imitation and fabrication, the introduction of new banknotes is expected to enhance security features and refresh the visual appearance of Pakistani currency, and boost public trust in the financial system.