Governor Jamil Ahmed of the State Bank of Pakistan (SBP) declared on Monday that new currency notes will be introduced in Pakistan this year. The first new denomination will be issued in 2025, and the new notes will be introduced gradually and in stages.
The designs will be presented to the federal cabinet for approval after being assessed by the SBP. Governor Ahmed emphasized a cautious, staged approach to guarantee a smooth transition, although he did not indicate which denomination will be adopted first.
The SBP is moving closer to introducing a digital money in addition to the new physical currency. This two-year-old effort aims to improve Pakistan’s regulatory and technological infrastructure through cooperation with foreign organizations and other central banks.
