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SBP Unveils Plans for New Secure Currency Notes

30Jan

By Aqsa Azam1 Comment

Pakistan

SBP Unveils Plans for New Secure Currency Notes

The State Bank of Pakistan (SBP) has announced plans to introduce a new series of currency notes across all denominations. However, this move is aimed at enhancing security features and combating counterfeit currency circulation in the country. The State Bank of Pakistan (SBP) Governor, Jameel Ahmed, announced that the central bank has decided to introduce new currency notes across all denominations. The aim is to boost security features and combat the circulation of counterfeit currency within the country. New notes will be in the loop from March 2024. During an informal discussion with journalists, Governor Jameel Ahmed shared the plan to revamp the entire currency system in Pakistan, targeting the issue of black money. This decision reflects the central bank's commitment to addre...

Banknote of Rs75 is available for general public now

29Sep

By Aqsa Azam1 Comment

Latest

Banknote of Rs75 is available for general public now

On the diamond jubilee of Pakistan, SBP issued a banknote of Rs75. This commemorative note is now available to the general public as well. This note is designs in a very unique and phenomenal style. State Bank has released a commemorative banknote of Rs 75 on the 75th anniversary of the independence of Pakistan. This commemorative currency note will be available to the public from SBP offices and commercial bank branches from today. This commemorative note has the status of legal tender under Section 25 of the SBP Act, 1956. It can be used in business transactions across Pakistan. It is pertinent to mention that the design of the said commemorative banknote was already unveiled on August 14, 2022. During a ceremony, here, at SBP headquarters, said a statement issued by SBP on Thu...

State Bank of Pakistan explains How to open “Asaan Mobile Account”

27Sep

By Muhammad Dastageer Shams2 Comments

Business

State Bank of Pakistan explains How to open “Asaan Mobile Account”

State Bank of Pakistan has introduced a new type of bank account as the “Asaan Mobile Account”. The word “Asaan” means easy and the account holds the basic features of any usual bank account. This new Bank account type is created for people who cannot open up standard accounts in any bank in Pakistan. As we know, opening a bank account in any Bank requires proof of employment or proof of source of income. However, the Asaan Mobile Account does not require any such proof and allows anyone to open up a bank account for transactions. The account only requires a mobile number to set up. Asaan Mobile Account (AMA) will serve as a platform for low-income individuals. Moreover, the program is undertaken by the State Bank of Pakistan as well as the Pakistan Telecommunication Authority (PTA). T...

State Bank Issued PKR75 note On 75th Independence

25Jun

By Muhammad Dastageer ShamsNo Comments

Business

State Bank Issued PKR75 note On 75th Independence

The State Bank of Pakistan plans to issue a new notice of Rs. 75 note. This notice is about to take action to make the Platinum Jubilee celebrations of Pakistan’s Independence this year. The Nation will celebrate Pakistan’s seventy-fifth Independence Day on 14 August 2022. 75 Rupees note can be a remarkable note and could now no longer be in use completely as objected to rumors circulating around. The State Bank of Pakistan has yet not posted any declaration on whether or not it'd issue a new note of Rs. 75.Pakistan is prepare to issue a brand new 75 Rupees note as a part of celebrations to maintain the country’s Platinum Jubilee. The new note has already been made legal with the aid of the State Bank of Pakistan and could quickly be in the stream. New note is expected to feature p...

Pakistan and China are in talks to trade in Chinese currency

31May

By Aqsa Azam1 Comment

Business

Pakistan and China are in talks to trade in Chinese currency

China proposed to Pakistan to create RMB capital circulation system. It will help to increase trade and business in Chinese currency. Talks between SBP and Chinese authorities are ongoing. ISLAMABAD, PAKISTAN: China proposed a pilot plan to follow the RMB capital circulation system in Pakistan. The renminbi (RMB) capital circulation system will help both countries to conduct business and trade in Chinese currency. The involvement of third-party currency will be completely cancel from all transactions. It will help to control trade deficit and economic crises in the country. The government has urged the finance ministry and the central bank to look into the Chinese authorities’ requests and take action. Significant progress is expected to be made soon, and formal talks between the...