State Bank of Pakistan Unveils Winning Designs in New Banknote Art Competition!

The State Bank of Pakistan (SBP) has announced the winners of its exciting Art Competition for the design of new banknotes! This competition, launched in January 2024, invited talented artists and designers from across Pakistan to contribute their creative visions for the nation’s future currency.

A Showcase of Pakistani Creativity

The competition aimed to involve the public in the design process, encouraging artists to submit their ideas for a fresh new look for Pakistan’s banknotes. The response was overwhelming, with a flood of entries showcasing the incredible artistic talent within the country.

And the Winners Are…

A committee of experts carefully evaluated the submissions, and the following designs were selected for prizes:

• Rs. 10:
  • 1st Prize: Dr. Shereen Abdi (Entry Code: NDB031353)
  • 2nd Prize: Mirza Sufyan (Entry Code: NDB030720)
• Rs. 20:
  • 1st Prize: Haroon Khan (Entry Code: NDB031108)
• Rs. 50:
  • 1st Prize: Syed Fawad Hussain (Entry Code: NDB031393)
• Rs. 100:
  • 1st Prize: Maimunah Afzal (Entry Code: NDB031178)
• Rs. 500:
  • 1st Prize: Hadiya Hasan (Entry Code: NDB030815)
  • 2nd Prize: Aini Zahra (Entry Code: NDB031111)
• Rs. 1000:
  • 1st Prize: Nooreen Aslam (Entry Code: NDB0313148)
• Rs. 5000:
  • 1st Prize: Maimunah Afzal (Entry Code: NDB031178)
  • 2nd Prize: Karim Muhammad (Entry Code: NDB031801)

Prizes and Collaboration

The winners will receive generous cash prizes:

• 1st Prize: Rs. 1,000,000
• 2nd Prize: Rs. 500,000

But the real prize is the recognition of their contribution to this national project. Their winning designs will now be shared with international design companies who have been shortlisted to finalize the new banknote series.

A Blend of Local Inspiration and International Expertise

While the international designers will draw inspiration from the winning submissions, they will also use their own expertise and creativity to create the final designs. This collaborative approach ensures that the new banknotes reflect both Pakistan’s rich cultural heritage and a modern, progressive outlook.

The Road Ahead

The international design companies will submit their proposals by December 2024, and the SBP Board will approve the final designs by January 2025. After receiving final approval from the federal government, the printing process will begin.

The SBP is committed to a smooth transition, with existing banknotes circulating alongside the new series for a period of two to three years. Deputy Governor Salimullah assures the public that the new currency aims to maintain the utility of the notes and that the process will be efficient, leveraging modern technology for printing.

A Currency that Represents the Nation

This Art Competition has been a remarkable initiative, engaging local talent and paving the way for a new banknote series that truly represents Pakistan’s identity and aspirations. Congratulations to all the winners! We eagerly await the unveiling of the final designs.

Q: What was the purpose of the SBP Art Competition?

A: The competition aimed to involve local artists and the public in the design process for Pakistan’s new banknote series, ensuring the new currency reflects the nation’s cultural heritage and progressive vision.

Q: Who were the winners of the competition?

A: The blog post lists the winners for each denomination (Rs. 10, 20, 50, 100, 500, 1000, and 5000). You can find the complete list with names and entry codes in the post above.

Q: What prizes did the winners receive?

A: The winners received cash prizes: Rs. 1,000,000 for first place and Rs. 500,000 for second place in each denomination.

Q: Will the winning designs be used directly for the new banknotes?

A: Not exactly. The winning designs will serve as inspiration for international design companies who will create the final designs for the new banknotes.

Q: Why are international designers involved in the process?

A: International designers bring expertise in banknote security, design trends, and international best practices. Their collaboration with local artists ensures a blend of cultural representation and technical excellence.

Q: When will the new banknotes be issued?

A: The international design companies will submit their proposals by December 2024, and the SBP Board will approve the final designs by January 2025. After final approval from the federal government, the printing process will begin.

Q: What will happen to the old banknotes?

A: The existing banknotes will continue to circulate alongside the new banknotes for a period of two to three years before being gradually phased out.

Q: Where can I find more information about the new banknote series and the competition?

A: You can visit the official website of the State Bank of Pakistan (www.sbp.org.pk) for more details.

Q: What if my question isn’t answered here?

A: For further inquiries, you can contact the State Bank of Pakistan directly through their website or official channels.

Fahad Munir

Fahad Munir is a seasoned journalist and editor at Awam PK, specializing in sharing accurate and timely news, job updates, and educational information to the Pakistani audience.