State Bank Clarifies that Banknote Designs Won in Recent Art Competition Not Part of New Series – Startup Pakistan

The State Bank of Pakistan (SBP) has made it clear that the recent art competition was not related to the design of new banknotes. Instead, the actual designs for the new banknotes will be created by well-known international firms.

These firms are expected to submit their design proposals by December 2024, with the final designs to be approved by January 2025.The purpose of the art competition was to engage local artists and showcase international best practices in art.

However, some people misunderstood the competition, thinking that the designs submitted by local artists were going to be used for the new banknotes. The SBP clarified that this was not the case.

The competition was focused on recognizing the creativity and quality of the art, while also promoting religious diversity in the artwork.The results of the competition were meant to celebrate artistic talent and creativity, not to indicate what the future banknotes would look like.