The State Bank of Pakistan has distributed new currency notes worth 27 billion rupees to commercial banks across the country in preparation for Ramadan, officials announced Tuesday.
The central bank has supplied fresh banknotes to approximately 17,000 commercial bank branches nationwide, ensuring widespread availability during the holy month when demand for new currency traditionally increases.
According to the State Bank's statement, specific instructions have been issued to banking institutions regarding measures to facilitate public access to these new notes. Commercial banks have been directed to utilize their ATM networks effectively to distribute high-quality, clean currency notes throughout Ramadan.
To enforce compliance and ensure efficient distribution, the State Bank has deployed dedicated cash monitoring teams to oversee operations at various bank branches. These teams will verify that banks are following the prescribed protocols for currency distribution.
The initiative aims to address the seasonal spike in demand for fresh currency notes, particularly before Eid celebrations, when gift-giving in the form of new notes is customary in Pakistan.
