The State Bank of Pakistan (SBP) has taken a bold step in its fight against counterfeit currency by launching an Art Competition to find fresh designs for a new series of banknotes. This exciting initiative aims to engage local artists, designers, and art students in infusing their creativity into the nation’s currency.
With concerns about counterfeit currency on the rise, the SBP recognizes the importance of staying one step ahead of counterfeiters. By introducing new designs, the SBP hopes to incorporate advanced security features that will make it more difficult for counterfeiters to replicate the currency.
The competition invites artists to explore a wide range of themes, including social and cultural identities, demographic diversity, climate change, environmental protection, economic development, natural landscapes, architectural heritage, and national symbols. This diverse range of themes ensures that the new banknotes will reflect the rich tapestry of Pakistan’s society and history.
Artists are encouraged to submit their designs by March 11, 2024, to the Finance Department at the SBP headquarters in Karachi. The competition is open to both established artists and emerging talents, providing an opportunity for artists at all stages of their careers to make their mark on the country’s currency.
To make the competition even more exciting, the SBP has announced cash prizes for the top three designs. The first-prize winner will receive a generous prize of Rs. 1 million, while the second and third-prize winners will receive Rs. 500,000 and Rs. 250,000 respectively. These cash prizes not only recognize the talent and creativity of the winners but also serve as an incentive for artists to push the boundaries of their imagination.
The terms and conditions for the competition specify the criteria for submission, including the size and format of the designs. The SBP has also outlined unique color schemes for different denominations to ensure that the new banknotes are easily distinguishable and visually appealing.
To ensure fairness and transparency, the SBP has appointed a jury consisting of experts in the fields of art, design, and security. The jury will evaluate the submissions and select the winning designs based on their creativity, aesthetic appeal, and adherence to the competition’s themes. This ensures that the final selection is not only visually stunning but also aligns with the objectives of the competition.
This innovative approach by the SBP not only promotes artistic expression but also engages the public in shaping the visual representation of the country’s currency. By involving artists and the wider community, the SBP is fostering a sense of ownership and pride in the currency, making it a true reflection of Pakistan’s diverse culture and heritage.
The State Bank’s Art Competition for new currency note designs is an exciting opportunity for artists to leave a lasting impact on the nation’s currency. With the chance to win substantial cash prizes and contribute to the fight against counterfeit currency, artists across Pakistan are encouraged to unleash their creativity and submit their designs. Let your imagination run wild and be a part of this transformative initiative that will shape the future of Pakistan’s banknotes.