Fake notes circulating in Pakistan? Not for long! The State Bank of Pakistan (SBP) is taking decisive action, announcing plans to roll out brand new currency notes across all denominations. This move aims to combat counterfeiting and bolster financial security within the country.

SBP Governor Jameel Ahmad confirmed the decision, citing concerns about fake notes and illicit financial activities. The new notes will boast cutting-edge international security features printed on special material, making them much harder to replicate.

Enhanced Security, Fresh Design: Say goodbye to the old look! These revamped notes will sport a brand new design and unique serial numbers, further hindering the circulation of counterfeits. Design work is already underway and expected to be complete by March.

Rising Problem, Urgent Action: This decision wasn’t taken lightly. Sources reveal a surge in fake note complaints across Pakistan, prompting the central bank to act swiftly. Even high-denomination notes like Rs.5000 haven’t been spared, with reports of fake ones even fooling seasoned officials.

Fake Note Woes? Soon to be History: The Senate Standing Committee on Finance had previously raised alarm bells about the widespread counterfeiting issue. During a meeting, a Senator even presented fake Rs.5000 notes that stumped SBP officials, highlighting the critical need for stricter measures.

Cracking Down on Criminals: The SBP is committed to curbing this illegal activity. They’re investigating potential entry points for fake notes, including the possibility of infiltration through banks. Deputy Governor Dr. Inayat Hussain acknowledged the lack of proper safeguards against domestic counterfeiting, promising swift action to address this gap.

With this initiative, Pakistan is taking a vital step towards protecting its financial system and safeguarding its citizens. The new currency notes, armed with advanced security features and a refreshed design, promise to usher in a more secure and reliable financial landscape for all.