To meet the demand for currency on the occasion of Eid-ul-Azha, State Bank of Pakistan through its 16 field offices of its subsidiary SBP Banking Services Corporation (SBP BSC) issued fresh notes of Rs. 185 billion for Eid-ul-Azha 2018 as compared to Rs.168 billion issued on previous Eid-ul-Azha.
Out of the total fresh notes issued, Rs. 12 billion of lower denomination (upto Rs. 100) fresh notes have been provided to commercial banks as compared to Rs. 8 billion on last Eid-ul-Azha, for onward distribution among general public and account holders.
Furthermore, Rs. 200 billion of fresh & good quality ATM notes of higher denomination (Rs. 500 & above) have been issued to commercial banks for smooth operations and availability of cash in ATMs during and before Eid holidays.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan