KARACHI: In an unprecedented move, the State Bank of Pakistan (SBP) Governor Jameel Ahmed announced on Monday that the bank will be introducing new notes in all denominations. The goal of this initiative is to improve security measures and stop the flow of counterfeit money into the nation.
The governor of Pakistan’s central bank unexpectedly disclosed intentions to launch new banknotes in all denominations during a casual conversation with media.
The action, which aims to eliminate black money within the nation, represents the State Bank of Pakistan’s principled resolve to reform the current monetary system.
Governor Jameel Ahmed stressed that in order to prevent counterfeiting, the new currency notes will include cutting-edge international security measures. In addition, the design framework of the new currency will be decided upon through a design competition that is scheduled for February.
It is anticipated that the notes will have vivid colors, unique serial numbers, elaborate designs, and enhanced security features.
Governor Jameel Ahmed made it clear that the shift will not be similar to India’s rapid currency change, providing assurances against unforeseen problems. The central bank’s resolve to preserving the integrity of Pakistan’s monetary system is reflected in the decision, which is the result of growing concerns about the spread of counterfeit notes throughout the country.
