New Currency Notes May Be Delayed, Says Governor State Bank

Karachi: The Governor of the State Bank has provided key updates regarding the introduction of new currency notes in Pakistan, confirming that their rollout may face delays due to design revisions requested by the federal government.

The Governor stated that the concepts for the new currency notes have already been presented to the government for approval. However, the government returned the designs with suggestions for improvements and modifications. The State Bank is now in the process of making the changes and the final decision will be taken by the Federal cabinet.

New Currency Notes Likely Delayed

Officials said the new series of currency notes could take longer than planned to be released because of the ongoing revision process. The central bank is still developing the designs in preparation for resubmission.

Financial Monitoring and Suspicious Transactions

In the course of a question and answer session, the Governor was also queried on bank accounts and digital wallet transactions, including for Easypaisa.

The State Bank’s Financial Monitoring Unit is a key component to its suspicious banking transactions and financial regulation compliance, he said. All suspicious activity detected in the banking system is reported to the relevant security agencies for further investigation.

Economic Risks and Regional Stability

The Governor also warned that instability in the Middle East could pose a significant challenge to Pakistan’s economy, potentially affecting trade, remittances, and overall financial stability.

Virtual Assets and Banking Access

Addressing the growing digital finance sector, he stated that once virtual asset service providers obtain proper licenses, they will be allowed to open bank accounts in Pakistan.

He further added that banks will gradually begin facilitating users for trading in virtual assets under a regulated framework, aiming to bring transparency and security to the emerging digital economy.