The State Bank of Pakistan (SBP) has announced that new currency notes with updated designs will be introduced later this year. This decision follows a public art competition where citizens submitted their ideas for the new designs. The SBP plans to roll out the new notes gradually, in all current denominations, to modernize the country’s currency and enhance security features. Let’s explore how these new designs came about and the key features of this initiative.
New Currency Notes Design Process
The design for the new currency notes was a result of a nationwide art competition organized by the SBP. Citizens submitted their designs, which were carefully shortlisted and evaluated by experts. This initiative aimed to involve the public in the creative process and ensure the new designs reflect the country’s cultural heritage.
| Stage | Description |
|---|---|
| Art Competition | Public submissions for design ideas |
| Shortlisting Process | Expert evaluation to select best designs |
| Finalization | Collaboration with international designers |
Security Features and Evaluation
Each new currency note will not only have updated designs but also enhanced security features. This is standard practice for central banks to ensure the integrity of the currency. The SBP has worked with experts to integrate modern security technologies into the new notes, which will make them more resistant to counterfeiting.
| Security Measures | Description |
|---|---|
| Modern Features | Incorporating advanced anti-counterfeiting technology |
| Regular Updates | New banknote series introduced every 15 to 20 years |
Key Winners of the Art Competition
The winners of the SBP’s art competition have contributed to the new currency note designs. The competition was part of the SBP’s initiative to allow citizens to have a direct impact on the design of the nation’s currency. Dr. Shery Abidi, Haroon Khan, Syed Fawad Hussain, and others won top prizes for their designs, which will now be featured on the new notes.
| Winner | Prize |
|---|---|
| Dr. Shery Abidi | First Prize |
| Haroon Khan | First Prize |
| Syed Fawad Hussain | First Prize |
| Mirza Sufiyan | Second Prize |
| Aynee Zahra | Second Prize |
| Karim Muhammad | Second Prize |
Gradual Rollout of New Currency Notes
SBP Governor Jameel Ahmed confirmed that the new currency notes will be gradually introduced into circulation. This phased rollout allows the public to familiarize themselves with the new designs, and also ensures that there are no disruptions in the availability of currency.
| Implementation Plan | Description |
|---|---|
| Phased Rollout | New notes to be released gradually across all denominations |
| Approval Process | Notes will be sent to the federal cabinet for approval |
Finalizing the Designs with International Experts
Once the initial designs were shortlisted, the SBP worked with international designers to finalize the look of the new currency notes. This collaboration aims to bring global design expertise to ensure the final product meets both aesthetic and security standards.
| Collaborators | Description |
|---|---|
| SBP and Experts | Working with global designers to finalize designs |
| International Input | Ensuring the notes meet global design and security standards |
Summary
The new currency notes from the State Bank of Pakistan represent a modern step forward for the nation. Through public participation and expert evaluation, Pakistan is introducing updated designs that reflect the country’s rich heritage while also focusing on security. The gradual rollout of these notes will ensure a smooth transition and further strengthen Pakistan’s currency integrity. As these new notes enter circulation, they will also serve as a symbol of national pride and progress.
