State Bank of Pakistan to Introduce New Currency Notes in 2025
State Bank of Pakistan (SBP) has officially announced that newly designed currency notes will begin circulation in 2025,
During a press conference held after announcing the new policy rate, SBP Governor Jameel Ahmed revealed that the new currency notes, covering all existing denominations, will be rolled out in phases rather than simultaneously. These notes will feature modernized designs and enhanced security features.
The Governor also mentioned that the designs are undergoing a technical evaluation process, after which they will be presented to the federal cabinet for approval. However, the SBP has not disclosed which denomination will be introduced first.
Why New Currency Notes?
The SBP stated that introducing new banknote series is a standard practice among central banks worldwide, typically occurring every 15 to 20 years. This practice ensures the integrity of banknotes while incorporating the latest advancements in design and security features.
Designs Selected Through Nationwide Competition
Last year, the SBP organized an art competition to invite designs for the new currency notes. The shortlisted designs, drawn from numerous entries, were revealed by the SBP and represent a mix of creativity and innovation.
Winners of the competition include:
- First Prize Winners: Dr. Shery Abidi, Haroon Khan, Syed Fawad Hussain, Memoona Afzal, Hadiya Hassan, and Noureen Aslam.
- Second Prize Winners: Mirza Sufiyan, Aynee Zahra, and Karim Muhammad.
The designs were evaluated by a panel of experts from relevant fields in a rigorous selection process.
Collaborating with International Designers
The SBP emphasized that the shortlisted designs are provisional and are being shared with international designers for further refinement. These experts are working closely with the central bank to finalize the designs, ensuring they meet international standards and align with technological advancements.
The phased rollout of these updated banknotes in 2025 marks a significant milestone in modernizing Pakistan’s currency and enhancing its security features.
