The central bank began this initiative in January 2024, focusing on creating updated designs for all existing denominations. In March, the SBP launched an art competition to gather innovative and thematic design concepts for the new currency notes.

The SBP asked the intended candidates to share designs for Rs10, Rs20, Rs50, Rs100, Rs500, Rs1,000, and Rs5,000

The first prize was awarded to Dr Shery Abidi, Haroon Khan, Syed Fawad Hussain, Memoona Afzal, Hadiya Hassan, and Noureen Aslam. The second-prize winners included Mirza Sufiyan, Aynee Zahra, and Karim Muhammad.

“The shortlisted designs are suggestive in nature and are being shared with international designers who have been shortlisted to work with SBP and finalise designs for the new banknote series,” said the SBP.

Rs10 winners

Rs20 winner

Rs50 winner

Rs100 winner

Rs500 winners

Rs1,000 winner

Rs5,000 winner

According to the central bank, the international designers, while drawing inspiration from the local art submissions, would be free to employ their design expertise and imagination to create final designs for the new currency note series.