In an effort to address concerns related to fake currency notes, the State Bank of Pakistan (SBP) has initiated an Art Competition to gather fresh designs for a new series of banknotes. The competition, open to local artists, designers, and art students, aims to incorporate creativity into the nation’s currency.
The SBP’s notification encourages participants to develop designs on themes such as social and cultural identities, demographic diversity, climate change and environment protection, economic development, natural landscapes, architectural heritage, and national symbols.
Artists are urged to submit their designs by March 11, 2024, to the Finance Department at the SBP headquarters in Karachi. The SBP has also announced cash prizes for the top three designs submitted by the artists.
Several terms and conditions have been outlined for the competition:
- Participants can submit designs for all seven existing denominations or fewer denominations based on their choice (Rs. 10, 20, 50, 100, 500, 1000, and 5000).
- Each banknote’s design should 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.
- The colors of each banknote denomination should be unique and easily distinguishable.
- A jury comprising reputed artists will evaluate the designs and recommend the top six designs for each denomination to the SBP for selecting the top three designs of each denomination.
- Cash prizes of Rs.1,000,000/-, Rs.500,000/-, and Rs.300,000/- will be awarded to the first, second, and third designs of each denomination, respectively.
- Participants must ensure that their submitted designs are free from any copyright claims and/or liabilities.
- Members of the jury, SBP, and its subsidiaries employees, and their family members are ineligible to participate in the Art Competition.
- The designs submitted will be the sole property of the SBP, allowing the SBP to share or modify the designs for the purpose of banknote designing without extra compensation.
- For questions and clarifications about the Art Competition, participants can contact the SBP at banknotes@sbp.org.pk.
This innovative approach not only promotes artistic expression but also engages the public in shaping the visual representation of the country’s currency.
