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The State Bank of Pakistan's finance director, Qadar Baksh, explained that the Rs. 75 banknote, a legal tender, will not impact the overall money supply. Of the 4.3 billion notes being circulated in 2023, only 65 million will be the Rs. 75 denomination, making it a limited, one-time release. [10]
In July 2017, it was acquired by the State Bank of Pakistan from the Government of Pakistan for Rs. 100 billion. [1] In the same year, National Security Printing Company was incorporated which tookover tasks of printing passports, national identity cards, and stamp papers from Pakistan Security Printing Corporation. [4]
A new series of notes was released in 1972, under the name of the State Bank of Pakistan rather than the Government of Pakistan. These had an Urdu overprint as well as an English one, saying "For Haj [sic] pilgrims from Pakistan for use in Saudi Arabia only". New notes were printed in 1975 and 1978, reflecting changes in the standard notes. [21]
Before independence on 14 August 1947, during the British colonial era, the Reserve Bank of India was the central bank for the then undivided subcontinent. On 30 December 1948 the British Government's commission distributed the Reserve Bank of India's reserves between Pakistan and India—30 percent (750 M gold) for Pakistan and 70 percent for India.
The National Institute of Banking and Finance (NIBAF) was set up on 8 March 1993 as a 'Private Limited Company by Guarantee' and was sponsored by the erstwhile Pakistan Banking Council (PBC) in collaboration with National Bank of Pakistan, Habib Bank Limited, United Bank Limited, Muslim Commercial Bank, The Bank of Punjab and Allied Bank Limited.
On 29 September 2023, a suicide bombing occurred in the Mastung District of Balochistan, Pakistan during the Eid Milad-ul-Nabi procession, which commemorates the birthday of the Prophet Muhammad. The explosion took place near the Madina Mosque, causing at least 60 deaths and between 50 and 70 injuries.
This is a new, unproven project and a highly speculative investment. But if the idea takes off, it could revolutionize vacation rental ownership and drive up demand for the token.
The first note, the $10 bill featuring Viola Desmond, was revealed on International Women's Day, 8 March 2018, and was released to the public on 19 November 2018. [1] Future notes will come at a slower pace than previous series to allow technological innovations to be worked into their design as time goes on.