The State Bank of Pakistan has categorically denied reports published in a section of the press today regarding the printing of Pakistani Flag in the colour of Turkish Flag on Rs1000/- banknote.
It is clarified that Pakistani Flag does not appear on any of the banknote issued by SBP. The crescent and five-pointed star appearing on the Rs1000/- banknote is only the state of art security feature which changes the shade of ink when viewed from different angles.
It may be pointed out that the crescent and five-pointed star surrounded in the printing design of Optical Variable Ink (OVI) appear at the right on the obverse side of the note. The OVI design changes colour from magenta to green and green to magenta when the note is viewed from different angles.
The banknote of Rs5000/- is also equipped with the same security feature but in this note the OVI design changes colour from green to golden and vice versa when the note is viewed from different angles.
This feature is very effective in combating the counterfeiting of currency and through this the genuineness of the high denomination banknote can easily be judged by the general public.
It is pointed out that non-stapling of banknote packets is a current international practice and the part of State Bank’s clean-note policy to enhance the life span of banknotes by avoiding cutting and tearing up of banknotes while removing the staples. The general public is supposed to count the notes before leaving the bank counters. Banks are also required to make good the shortages of banknotes when pointed out at the time of receiving notes by the customers.
It may be added here that under the State Bank Act 1956, the design, form and material of the Banknotes issued by the State Bank are approved by the Federal Government and the Cabinet Sub-committee.