Pakistan launches art competition for new currency notes

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KARACHI: Following the decision to introduce new currency notes to resolve the fake notes complaints, the State Bank of Pakistan (SBP) kicked off an Art Competition to source fresh designs for a new series of new banknotes, ARY News reported on Tuesday.

In its latest notification, the SBP invited local artists, designers, and art students to participate in the competition and infuse their creativity into the nation’s currency.

The notification instructed the participants to develop the designs on the themes, including but not limited to, social and cultural identities, demographic diversity, climate change and environment protection, economic development, natural landscapes, architectural heritage, and national symbols.

In the SBP s notification, 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.

The State Bank of Pakistan (SBP) also announced cash prizes for the top 3 designs summited by the artists.

However, there are some Terms and Conditions listed below, which needs to be followed:

  1. The Participants can share the design of all the seven (07) existing denominations (Rs. 10, 20, 50, 100, 500, 1000, and 5000) or fewer denominations based on their choice.
  2. The design for each banknote shall be presented in hard copy on white paper along with a write-up of not more than a hundred words in English or Urdu, explaining the design and its theme.
  3. The colors of each banknote denomination should be unique and easily distinguishable.
  4. 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.
  5. 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.
  6. The participants shall ensure that their submitted designs are free from any copyright claims and/or liabilities.
  7. The members of the Jury, SBP, and its subsidiaries employees and their family members shall not be eligible to participate in the Art Competition.
  8. 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 the purpose of banknote designing, without any extra compensation.
  9. For any questions and clarifications about the Art Competition, please contact us at banknotes@sbp.org.pk.

This innovative approach by the State Bank of Pakistan not only promotes artistic expression but also engages the public in shaping the visual representation of the country’s currency.

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