In a groundbreaking announcement, Jameel Ahmed, the Governor of the State Bank of Pakistan (SBP), declared a principled decision to revamp the nation’s currency system. This strategic move aims to combat individuals and entities engaged in illicit financial activities within the country.
A Pledge for Enhanced Security
During an informal conversation with reporters, Governor Ahmed emphasized the motive behind this overhaul. He reassured the public that the forthcoming currency notes would boast state-of-the-art International Security Features. These features are pivotal in enhancing the security of legal tender and mitigating the circulation of counterfeit currency notes.
Designing a Secure Future
To achieve this vision, SBP is set to organize a design competition in February, focusing on creating visually appealing notes. These notes will incorporate intricate designs, vibrant colors, and advanced security features. Governor Ahmed revealed that the design framework for the new notes has already commenced and is expected to be completed by March.
A Strategic Approach
Addressing concerns about a potential upheaval, Governor Ahmed clarified that the currency revamp would not mimic the sudden demonetization experienced by India in 2016. Instead, the SBP aims to strategically combat the rising complaints about fake notes circulating across the country.
Technological Advancements for Financial Purity
Sources within the SBP informed ProPakistani that the decision to overhaul the currency is a response to the surge in complaints about counterfeit notes. The bank is set to implement a comprehensive strategy, incorporating technologically advanced security features on the new currency notes.
Strengthening National Integrity
This groundbreaking initiative is not just about countering black money; it’s a holistic approach to fortify the overall integrity and security of the currency. The SBP’s commitment to tackling financial malpractice and ensuring a secure financial environment is evident in this bold move.