Islamabad, Sep 12: SBP Clarifies New Banknote Designs. the State Bank of Pakistan (SBP) Thursday issued a clarification regarding the results of the Art Competition for thematic design ideas of a new banknote series.
According to the central bank, the new currency series’ design process was started in January of this year. The purpose of the art competition was to support regional artists and involve the public in the design process in accordance with global best practices.
The winning pieces from this competition were revealed on September 5 after a panel of well-known artists assessed the artwork that the local artists had submitted.
According to SBP, some members of the public and media have misunderstood the results announcement as a shortlisting of the designs for the new currency series. But the sole purpose of revealing the winners of the art competition was to recognize the artists’ work and provide them with financial rewards.
