Banks to issue fresh currency notes in Ramazan

Tuesday, August 25, 2009

KARACHI: The State Bank of Pakistan (SBP) on Monday said that its offices and commercial banks would issue fresh currency notes of Rs5 and Rs10 denominations during the month of Ramazan. SBP s offices and commercial bank branches throughout the country will issue one packet each of Rs5 and Rs10 denomination fresh notes to one person from their counters till the last working day before Eid-ul-Fitr.

The field offices of SBP BSC will start issuing these notes from August 25 while commercial bank branches will issue fresh notes from August 26 on production of original Computerised National Identity Card (CNIC) along with a copy for record. Commercial banks will also issue one packet each of these currency notes during the above mentioned period to their account holders on production of CNIC and its copy. They will issue a maximum of five packets each of Rs5 and Rs10 denomination fresh notes to their corporate clients on receipt of request on the company s letter head duly signed by an authorised representative. In order to ensure equitable distribution of fresh notes, each person/entity shall be eligible for fresh notes only once during Ramazan, the SBP said.