Designs of new Pakistani currency notes finalised: What’s next for old banknotes?

KARACHI – State Bank of Pakistan (SBP) Governor Jameel Ahmad has confirmed that the designs for the new currency notes have been finalised, with approval from the federal cabinet still pending before their launch. He revealed it while responding to a question about the delay in launching of new currency notes during his meeting with members of the Karachi Chamber of Commerce and Industry (KCCI) on Friday. What’s Next for Old Banknotes. Officials have explained that the old banknotes will be phased out gradually when the government will start rolling out new currency notes. Designs Selection in July 2025 In July last year, the central bank finally selected new designs for the currency notes. SBP Governor Jameel Ahmed had revealed it while addressing a press conference regarding policy rate. He said the process to introduce new currency notes in Pakistan was underway and the designs have been approved. He did not reveal which designs have been selected but hinted that these were made by an international expert. The governor said the printing of the currency notes with new designs will be started after getting approval of the federal cabinet. Earlier in 2025, the central bank chief said it is common practice for SBP to introduce new banknote series every 2 decades to maintain integrity of notes and ensure that they reflect the latest advancements in technology, design, and security features. In 2024, the central bank rolled out potential designs for the new currency notes, which were selected through a public art competition. The competition received numerous submissions, and the winners were recognized for their creative contributions. Among winners were Dr. Shery Abidi, Haroon Khan, Syed Fawad Hussain, Memoona Afzal, Hadiya Hassan, and Noureen Aslam, who won first place. Second place was awarded to Mirza Sufiyan, Aynee Zahra, and Karim Muhammad. These designs went through a thorough evaluation process by a committee of experts. The SBP has now shared the shortlisted d