State Bank of Pakistan has announced an art competition for the design of new currency notes. The State Bank of Pakistan (SBP) started an Art Competition for fresh designs with a new series on banknotes. The SBP invited local artists, designers, and art students to participate in the competition and infuse their creativity into the nation’s currency.
The design process for the new banknote series was launched in January with an art competition for thematic designs and ideas, aimed at encouraging artists and the public in the design process in line with international best practices.
SBP New Currency Notes Design Winner Name List
Local artists and designers participating in the competition are commendable for showing their creativity on this important occasion. The following designs have been selected for the prize money after careful evaluation by a committee comprising respected experts in the respective fields.
The designs that were declared winners were not the shortlisted designs for the new series of banknotes. The final designs of the proposed new series are being designed by leading international companies selected through a competitive process. These companies will submit their proposals for new designs by December 2024, while the designs approved by the State Bank Board will be submitted to the federal government for final approval by January 2025.
Local artists and designers participating in the competition are commendable for showing their creativity on this important occasion.
- Dr. Shereen Abdi I Rs.10 NDB031353
- Mirza Sufyan II Rs.10 NDB030720
- Haroon Khan I Rs.20 NDB031108
- Syed Fawad Hussain, I Rs.50 NDB031393
- Maimunah Afzal 1st Rs.100, and 1st Rs.5000 NDB031178
- Hadiya Hasan I Rs.500 NDB030815
- Aini Zahra II Rs.500 NDB031111
- Nooreen Aslam I Rs.1000 NDB0313148
- Karim Muhammad II Rs.5000 NDB031801
The shortlisted designs are only suggestive and these designs are being sent to international designers who have been shortlisted to work with the State Bank of Pakistan and finalize the designs for the new banknote series.
Although international designers will be guided by the above designs given by local artists, they will be free to use their skills and imagination to create the final design.
State Bank will ensure that the new banknote series reflects the nation’s rich cultural heritage and progressive outlook. It is hoped that the final design will fully reflect this collaboration. Winners will be given prize money as announced by participating in this important national project.
SBP Art Competition for new banknote designs
The artists are urged to think outside the box and submit their designs by March 11, 2024, to the Finance Department at the SBP headquarters on I.I. Chundrigar Road in Karachi. For more information visit the official website of SBP www.sbp.org.pk.
Designers’ samples will be sent to the government for final approval. Even after the issuance of new currency notes, the existing currency notes will continue to circulate, but they will be phased out. It takes two to three years to introduce new currency notes in the market but this time the phase will be completed in just two years.
There are 17 thousand bank branches across the country, so people will be able to exchange their notes easily, new currency notes will be transferred to the account while old currency notes will be phased out.
Only after the approval of the federal government, the printing process of the new series of banknotes will be started.
ڈپٹی گورنر سٹیٹ بینک سلیم اللہ نے کہا نئی کرنسی کا مقصد نوٹ کی آفادیت کو برقرار رکھنا ہے، 2005 میں نئی کرنسی جاری کی تھی جس کا عمل تین سال تک جاری رہا۔سلیم اللہ کا کہنا تھا پہلا نوٹ جاری کرنے میں تقریبا دو سال لگیں گے، یہ ایک طویل عمل ہے، نئی کرنسی کی چھپائی جدید ٹیکنالوجی کے ذریعے کریں گے۔
SBP New Currency Notes Design Art Competition Prizes
The State Bank of Pakistan (SBP) has announced cash prizes for the top three designs summited by the artists. The public has also been asked for their suggestions for the design of currency notes, there are three prizes for each denomination, and there are seven denominations in total, so there are 21 prizes.
- The first prize is 10 lakh rupees,
- The second prize is 5 lakh rupees
- The third prize is Rs 3 lakh.
The Art Competition will be conducted under the following terms and conditions:
(a) The Participants can share the design of all seven (07) existing denominations (Rs. 10, 20, 50, 100, 500, 1000, and 5000) or fewer denominations based on their choice.
(b) The design for each banknote shall be presented in hard copy on white paper along with a writeup of not more than a hundred words in English or Urdu, explaining the design and its theme.
(c) The colors of each banknote denomination should be unique and easily distinguishable.
(d) A Jury comprising reputed artists will evaluate the designs and recommend the top six (06) designs for each denomination to the SBP for picking the top 3 designs of each denomination.
(e) The first, second, and third designs of each denomination will be given the prize of Rs.1,000,000/-, Rs.500,000/- and Rs.300,000/- respectively.
(f) The participants shall ensure that their submitted designs are free from any copyright claims and/or liabilities.
(g) The members of the Jury, SBP and its subsidiaries employees, and their family members shall not be eligible to participate in the Art Competition.
(h) The designs submitted in the Art Competition will be the sole property of the SBP and the SBP will be at liberty to share the design or any modification thereof with the banknote designers for banknote designing, without any extra compensation.
(i) For any questions and clarifications about the Art Competition, please contact us at banknotes@sbp.org.pk.