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Governor SBP highlights need to improve the quality of currency notes

LAHORE: Acting governor of State Bank of Pakistan (SBP) Saeed Ahmad on Tuesday urged commercial banks to align their plans with the central bank in order to improve the quality of currency notes, ARY News has learnt .

SBP has organized a conference on Currency Management in Lahore today. Foreign international experts belonging to different countries including Switzerland, Malaysia, and Sri Lanka.

Addressing the participants, Governor SBP said  that without the combined efforts of SBP and commercial banks, the desired results to improve the quality of currency notes in circulation will not be achieved.

Saeed Ahmed said that banknotes are face of a central bank and ensuring circulation of clean notes, removal of soiled and counterfeit notes, and redistribution of fit notes in the system is amongst key responsibilities of the SBP.

During the conference many things including Banknote Printing in Pakistan, Currency Management Challenges, Global Trends and Developments in Security Ink and Ink- Based Security Features, Evolution of Banknote Security Features in Pakistan, Global Trends and Developments in Security, Paper/ Paper-based Security Features of Banknotes and Pakistan’s Experience, Challenges Related to Automation of Cash Operations and Automation of Banknote Processing was discussed.

The acting governor of SBP expressed hope that the deliberations and recommendations coming out from this conference would enable State Bank to align its currency management policies and strategies with international best practices.

 

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