The State Bank of Pakistan (SBP) has finalized the design for the country’s upcoming series of currency notes, marking a significant development in the central bank’s efforts to modernize Pakistan’s cash system. The announcement was made by SBP Governor Jameel Ahmad during a press conference held in Karachi, where the central bank also disclosed its decision to maintain the existing policy interest rate.
Governor Ahmad shared that the redesign process, which has been under deliberation for some time, has now reached a critical milestone with the selection of a finalized design. The new banknotes will feature a layout developed by an international expert, selected to bring a modern and secure aesthetic to Pakistan’s paper currency.
According to the governor, the process of issuing the new currency series will formally begin following the necessary approvals from the federal Cabinet. The timeline for circulation will be determined once the Cabinet gives the green light to move forward.
Although the central bank has not made the new designs public, speculation has increased following an art competition previously hosted by the SBP to engage the public in envisioning the future of Pakistan’s currency. However, SBP clarified that the final designs are not derived from the submissions received during the competition and have instead been developed in collaboration with a seasoned global currency design expert.
This upcoming change marks one of the most comprehensive currency redesign initiatives in Pakistan’s recent history. While the specific features and imagery of the new notes have not been disclosed, the SBP is expected to incorporate enhanced security elements and visual upgrades in line with international standards to combat counterfeiting and improve durability.
Currency redesigns play a pivotal role in modern monetary systems. In addition to improving the aesthetic and national identity representation on notes, updated designs can introduce advanced security features that significantly reduce the risks of forgery and misuse. The SBP’s move is aligned with international best practices, where central banks periodically update currency formats to reflect economic, cultural, and technological evolution.
The announcement comes at a time when the State Bank is also pushing for broader digitization in financial services and increased use of digital transactions. While digital payments continue to grow, currency remains a key component of Pakistan’s economy, especially in informal sectors. The new currency series is expected to cater to both security and usability, bridging the gap between modern design and local circulation needs.
Once approved, the redesigned notes will likely be rolled out in phases to avoid disruptions in the monetary system. The SBP is also expected to run a public awareness campaign to educate the public and financial institutions about the new designs and features.
As of now, the central bank has urged the public to disregard any unofficial images circulating online. The official unveiling will follow Cabinet approval, after which more details about the designs, denominations, and circulation timelines will be made available.