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Launch of videos and Application on the currency security feature by State bank of Pakistan

SBP-300-225

As a part of “ Rupay ko Bachao” drive, the State bank of Pakistan has introduced Videos and Smartphone Application informative about the banknote security features in a ceremony. Several senior executives of commercial banks and high officials of the Law Enforcement Agencies attended the ceremony.

The videos are and Smartphone application are to elaborate the security features of the circulating currency notes, thus to make people aware and make them able to identify the genuine and fake currency notes. Total 5 videos are available one each for Rs.5000 Rs. 1000 and Rs. 500 notes, one for Rs. 10, 20, 50 and 100 notes. The fifth video illustrates the security features of all currency notes on the whole. The smart phone application is downloadable for both the apple the Android platforms. The information available in the Application about the currency notes is both in descriptive and pictorial form.

Mr. Ashraf Mahmood Wathra the Governor of state Bank of Pakistan during the launch ceremony said that we aim to get to the three main goals:

  • Intensify the security attributes of the currency notes so as to combat the imitation.
  • The cash processing system has been automated so that no fake notes can be passed by the banking system.
  • Informing general public about the security checks of the genuine currency so that they can easily differentiate between the notes.

The governor further added that the security features of the higher cult currency note of 500 are enhanced. After the approval of these features by the federal government currency notes with th advanced features will be circulated by the third quarter of 2016. Furthermore, an inclusive cash management plan has been approved so as no fake notes pass the banking system by atomizing the bank’s cash procedures by January 2017. SBP is eager to install the state-of-the-art high-speed banknote processing machines ,at SBP BSC Karachi and various other influential areas of the country.

Underlining the significance of the videos and the smartphone application the governor pointed out that the major tool to combat the counterfeiting is the public awareness. The smartphone application will make the smartphone users to be conscious about the security features and the number of smartphone users is increasing day by day. In the same way the videos is an efficient tool to be circulated which will be placed on the websites of SBP and other banks, furthermore, these videos will be used in the currency seminars in trade bodies, Chamber of Commerce, schools, colleges and universities all over the country. The banks will ensure to get the videos on air in the waiting areas of their branches and a brief version of these videos will be shown on PTV and other channels as a Public Service message.

The governor admired the supportive role of LEAs in this initiative, he said, the comapign would only be partly successful without the efforts of LEAs.

“I will thus strongly urge the law enforcement agencies to enhance their capabilities in this regard, create specialized cells, and build strong intelligence network and surveillance system to identify the counterfeiters and their networks, if any”

He encouraged the LEA’s to build such capacity by assuring the SBP’s full support.

He assured the public that all the efforts are made to combat the piracy and to maintain the integrity of the currency. He endorsed the people to exploit these videos and the application to understand the security checks of the currency notes in a better way. He urged the public to inform the counterfeit currency to law enforcing agencies courageously as this the utmost duty of a good citizen.

Technology Magazine Pakistan