SBP to start issuing new banknotes with Governor Jameel Ahmad’s signature from today

The State Bank of Pakistan (SBP) will start issuing new banknotes on December 29, 2022.

The new SBP Banking Services Corporation banknotes will include the signature of the new governor, Jameel Ahmad.

Banknotes containing the signatures of his predecessors will also remain legal tender.

Earlier, the SBP stated that banknotes of the old design, large-sized banknotes with denominations of Rs10, Rs50, Rs100, and Rs1,000 could be exchanged from the SBP till December 31, 2022.

The federal government extended the deadline for exchanging old designed large-size banknotes in Notification F.No.2(1)IF-III/2010 until December 23, 2021.

In a statement, State Bank stated that December 31, 2022, was the “last and final deadline for exchange of such banknotes, upon expiry of which, these banknotes shall no longer be exchangeable from the counters of the SBP Banking Services Corporation (BSC) and thus will lose their value.”