FD Circular No. 01 / 2022

09/29/2022

The Presidents / Chief Executives

All Banks/Microfinance Banks

Dear Sir/Madam,

Commemorative Banknote of Rs. 75 Denomination

As a part of celebrations of 75 years of Independent Pakistan, the State Bank of Pakistan (SBP) is pleased to issue a commemorative banknote of Rs.75 denomination, which shall be available for public subscription in exchange from the offices of the SBP Banking Services Corporation and all commercial banks with effect from September 30, 2022.

2. In terms of section 25 of the State Bank of Pakistan Act, 1956, the banknote shall be legal tender across Pakistan and shall perform the function of medium of exchange i.e. settlement of the private and public obligations. However, being a commemorative banknote, it will be one-off issue in the limited quantity.
3. All commercial banks are, therefore, advised to issue to, and accept from, the general public, the aforesaid commemorative banknote like any other banknote or coin, which is legal tender in the country.

Please acknowledge receipt.

Yours faithfully,

Sd/-

(Qader Bakhsh)

Director