New Currency Notes Designs Still in Progress, Awaiting Cabinet Approval: SBP Clarifies | AIA News

New Currency Notes Designs Still in Progress, Awaiting Cabinet Approval: SBP Clarifies

New Currency Notes Designs Still in Progress, Awaiting Cabinet Approval: SBP Clarifies

— September 12, 2024

KARACHI (AIA) The State Bank of Pakistan (SBP) issued key clarifications on Thursday regarding the design process for new banknotes. In a statement, the SBP explained that the recent competition for new currency notes designs was held to encourage public participation and gather creative input for developing the best designs.

The central bank further clarified that while the competition’s results were announced, the winning entries were mistakenly interpreted on social media as the final shortlisted designs for the new currency notes. SBP emphasized that the final designs are still in development, with assistance from international companies.

The bank also noted that the printing of the new notes will only commence after the federal cabinet grants approval for the finalized designs.

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