ISLAMABAD: State Bank of Pakistan (SBP) has announced launching an art competition to come up with best possible samples for the new currency notes probably to be launched after March this year.
According to details received here purpose of the competition is to bring more innovation and thematic designs for the new series of banknotes.
It is worth mentioning here that during an informal talk with the journalists on Monday, Governor SBP, Jameel Ahmad Khan stated that the central bank would soon issue new currency notes in the country, a move connected to the scores of the complaints by the masses over fake notes across the country.
Accordingly, local artists, designers and art students/designers are eligible to participate in the Competition as they would develop the designs on the themes, including but not limited to, social and cultural identities, demographic diversity, climate change, environment protection, economic development, natural landscapes, architectural heritage and national symbols.
The artists would also have the space to include innovative designs and ideas. Later they could submit the designs to Director, Finance Department, SBP, I.I. Chundrigar Road, Karachi, by 11th March 2024.
Terms, Condition for Art Competition
The Art Competition would be conducted under the following terms and conditions: –
a) The desiring Participants can share design of all the seven (07) existing denominations (Rs. 10, 20, 50, 100, 500, 1000 and 5000) or less denominations based on their choice.
b) Design for each banknote must be presented in hard copy on white paper along with a writeup of not more than hundred words in Urdu or English, having details about the design and its theme.
c) Colors of each banknote denomination should be unique and easily distinguishable.
d) A Jury comprising reputed artists would evaluate the designs and recommend the top six designs for each denomination to the SBP for picking the top 3 designs of each denomination.
e) The first, second and third designs in each category would be awarded with the prize of Rs.1,000,000/-, Rs.500,000/- and Rs.300,000/- respectively.
f) The submissions must be free from any kind of copyright claims and/or any liabilities.
g) Members of the Jury, SBP and its subsidiaries employees and their family members are not eligible to participate in the Competition.
h) The designs submitted in the Art Competition would be sole property of the SBP and the central bank would be at liberty to share the design or any modification thereof with the banknote designers for
the purpose of banknotes designing, without any extra compensation.
