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At the time of partition of India and Pakistan in 1947 the Reserve Bank of India was functioning as Central Bank of the undivided India. As it was not possible to set up a separate Central Banking Institution in Pakistan immediately after partition, emergency arrangements were put into place for the circulation of currency in Pakistan.
The Governor General of undivided India issued the 'Pakistan (Monetary System and Reserve Bank) Order, 1947' on 14th August 1947. Under this order, the Reserve Bank of India was to be common authority for India and Pakistan until 30th September 1948. | ||||||||||
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'Pakistan (Monetary System and Reserve Bank) Order, 1947' allowed for Indian Notes to be modified for use in Pakistan and to be placed into circulation from 1st April 1948. The modification to the Indian Notes consists of two inscriptions on the front of the Notes "Government of Pakistan" in English at top, while "Hakumat-e-Pakistan" at bottom of the white area reserved for viewing the watermark were inscribed. The inscribed Notes were in the denomination of 1, 2, 5, 10 and 100 Rupee.
It is important to note that these inscriptions are due to modifications to the printing plates and they are not 'overprints'. | ||||||||||
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After the formation of State Bank of Pakistan, Government issued emergency series of bank Notes on 1st October 1948, with the denominations of 5, 10 and 100 Rupees. It was prepared by Thomas De La Rue & Company of Great Britain.
The 5-Rupee Note was deep Blue, 10-Rupee Note was oficially described as red but it was more an orange and the 100-Rupee Note was rich green color. To the right, on the front of each Note, was a crescent moon and star, while to the left the denomination of each note is written in Urdu numerals. There is neither watermark nor security thread on any note in this series with the signature of Ghulam Muhammad, Pakistan's first Finance Minister. | ||||||||||
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On 1st March 1949, 1 and 2 Rupee Notes were issued. Both Notes were printed by Bradbury Wilkinson & Company of Great Britain. The 1 Rupee Note was issued on behalf of the Government of Pakistan, while the 2 Rupee Note was issued by the State Bank of Pakistan.
The 1 Rupee Note was green, with a crescent moon and star on front and an illustration of the Naulakha Pavilion on back. The 2 Rupee Note was brown, with an illustration of a tower from tomb of Jahangir on the front and the Badshahi Mosque appears on the back. A series of proposed designs of 5, 10 and 100 Rupee Notes was put to the Central Board of the State Bank by the Governor on 16th August 1948 and proofs were submitted to the Government for approval. The illustration for the 5 and 10 Rupee Notes were approved but the design for the 100 Rupee Note was rejected. The 100 Rupee Note had an illustration of the building used as the headquarters of the State Bank in Karachi on its front. The Government rejected this design because the building occupied by the State Bank in Karchi was a rented building, and they decided that a building that was not owned by the State Bank should not be depicted on a banknote. On 1st September 1951 the first 5 and 10 Rupee Notes were issued on behalf of State Bank of Pakistan and had been printed by Thomas De La Rue in Britain. The 5 Rupee Note had an illustration of boat with jute on front and Khyber Pass on back. The 10 Rupee Note had an illustration of Shalimar Garden on front and Makli Tomb on back, both Notes carried the watermark of the crescent moon and star. In March 1951 the Board of the State Bank released a 100 Rupee Note in a similar pattern to the existing issue as a temporary measure with some alterations. The new and first 100 Rupee Note with the signature of State Bank Governor (Zahid Hussain) was issued on 15th September 1953. | ||||||||||
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In 1956, the Joint Secretary Cabinet inform the Cabinet that according to some reliable source, there was an offically sponsored organization in Calcutta which were forging Pakistani currency notes on a big scale, that were in circulation in India. In this connection it was suggested that the new series of Pakistani Bank Notes with a portrait of Mr. Muhammad Ali Jinnah should introduced.
In this regard the 100 Rupee Note was issued on 24th December, 1957. It was predominantly green in color, a portrait of Mr. Muhammad Ali Jinnah, watermark of Mr. Jinnah and a security thread on front and the illustration of the Badshahi Mosque on back of the Note were introduced. This series continued with the introduction of a new 50 Rupee Note on 12th June 1964, 500 Rupee Note on 28th October 1964, 5 Rupee Note on 19th September 1966 and 10 Rupee Note on 16th November 1970. | ||||||||||
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During the Civil War many Notes of the State Bank were stolen and bundles of banknotes were being stamped with slogans in Bengali and English, slogans such as 'Joy Bangla' and 'Bangla Desh', then being released into circulation in East Pakistan.
Then Pakistani Government decided to take action against the looters and propagandists. On 8th June 1971 the Pakistani authorities declared all currency carrying inscriptions of 'Joy Bangla', 'Bangla Desh' or any similar expression, or which were marked with 'Dacce', to no longer be legal tender. In addition, all 100 and 500-Rupee Notes were no longer to be legal tender. Pakistan demonetized the remaining Notes and prepared a new series of 1, 5, 10, and 50-Rupee. In new series the design of the Notes remains same but the colors were changed. The 1-Rupee Note became brown, the 5-Rupee Note became ochre, the 10-Rupee became green, and the 50-Rupee Note became blue. The only new note that was not based on an existing design was the 100 Rupee Note. It was issued on 1st March 1972, with the portrait of Mr. Jinnah to the left on front and an illustration of Badshahi Mosque on the back. | ||||||||||
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Due to the secession of East Pakistan there was no need for Bengali text to appear on the notes and the images of tea gardens and jute-laden boats were no longer appropriate for banknotes circulating in the new Pakistan.
The first note in the new generation of Notes was a 1-Rupee Note, introduced on 16th May 1974. It was predominantly blue, with a crescent moon and star at the right. Along the bottom of the note is panel in which the words 'One Rupee' are repeated in four regional languages. Starting from the right, the text reads: 'Ik rupee (Punjabi) Hik rupee (Sindhi) Yo rupee (Pushto) Yuk rupee (Baluchi)'. The back of the Note was also blue and carries an illustration of the 'Minar-e-Pakistan. The circulation of this 1-Rupee Note was short-lived. It was replaced because the use of four regional languages was seen as promoting provincialism. The new 1 Rupee Notes was placed into circulation on 15th April 1975. This series continued with the introduction of new 5, 10 and 100 Rupee Notes on 12th July 1976, 50 Rupee Note on 29th December 1977, 2 Rupee Note on 24th August 1985, 500 Rupee Note on 1st April 1986 and 1000 Rupee Note on 18th July 1988. | ||||||||||
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Due to modern forgery techniques, State Bank of Pakistan to overcome this situation decided to use new technology with more added security features in printing of banknotes by PSPC.
On 13th August 2005, State Bank of Pakistan introduced 20 Rupee Banknotes in the history of Pakistan with added security features and an era of latest printing technology started. It was brown in color, with portrait of Mohammad Ali Jinnah on the front and Mohenjo Daro at the back. This series contains Rs. 5, 10, 20, 50, 100, 500, 1000 & 5000 denomination notes. The highest denomination note of this series Rs. 5000 was introduced on 27th May 2006. It was the first time that a currency note of 5000 denomination was introduced. It is mustard in color with Quaid's portrait at the front and Faisal Mosque, Islamabad at the back of the note. | ||||||||||
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Peter Symes
First published in the
International Bank Note Society Journal
Volume 38, No.4, 1999
This study looks at the bank notes issued in Pakistan from the time of independence in 1947 to 1972, the year after the civil war between East and West Pakistan (which led to East Pakistan becoming the new state of Bangladesh). Between 1947 and 1972 there were five series of bank notes issued. However, the first three series were released within a five-year period, inundating the people of Pakistan with a plethora of bank notes. This was followed by a period of relative stability that terminated in an emergency issue due to the separation of East and West Pakistan.
The First Issue
Following Great Britain’s decision to grant independence to India after the Second World War, groups that had previously agitated for a Muslim state, separate from Hindu India, increased their activity. It soon became apparent to the British that a separate state for Muslims would be required to satisfy the vast communities of Muslims in the Indian sub-continent. The need for partition became more apparent with the growing discord between the two religious communities in the period prior to the declaration of independence for India. The plan for the partition of India and Pakistan was announced on 3 June 1947, with the plan allowing for the separate dominions to come into existence on 15 August 1947. The Muslim state of Pakistan was formed by East Pakistan, created largely from East Bengal, and West Pakistan, formed predominantly from the Punjab, Sind, Baluchistan and North-west Territories. Because of the short time (just over two months) between the announcement of the plan for partition and the date declared for the partition, emergency arrangements were put into place for the circulation of currency in Pakistan.
Following advice from an expert committee, the Governor General of undivided India issued the ‘Pakistan (Monetary System and Reserve Bank) Order, 1947’ on 14 August 1947, the day before partition. Under this order, the Reserve Bank of India was to be the common currency authority for India and Pakistan until 30 September 1948, with notes issued by the Reserve Bank of India and the Government of India remaining legal tender in Pakistan until the same date. The order also allowed for notes issued by the Reserve Bank of India and the Government of India to be inscribed with ‘Government of Pakistan’ in Urdu and English, and placed into circulation from 1 April 1948 under the responsibility of the Government of Pakistan. So, following a seven-month period where notes of the Reserve Bank of India and the Government of India continued to circulate in Pakistan, modified notes of the Reserve Bank of India in the denominations of 2, 5, 10 and 100 rupees were introduced as planned, along with modified 1-rupee notes of the Government of India.
The modification to the Indian notes consisted of two inscriptions on the front of the notes. At the top of the white area reserved for viewing the watermark the words ‘GOVERNMENT OF PAKISTAN’ were inscribed in English, while at the bottom of the white area the Urdu rendition of the same phrase appears, i.e. ‘Hakumat-e-Pakistan’. It is important to note that these inscriptions are due to modifications to the printing plates and they are not ‘overprints’. This distinction is important, as there have been attempts to dupe collectors by overprinting notes of the Reserve Bank of India with the relevant inscriptions. All other details of the inscribed notes were the same as their counterparts, which continued to circulate in Pakistan as well as India.
Following the separation of Pakistan and India, unprecedented rioting and civil disturbances broke out across Pakistan. The targets of the riots were invariably Hindu communities and businessmen living in Pakistan. The disturbances caused a great deal of friction between the governments of India and Pakistan and led to the mass exodus of many Hindu communities. As relations between the two countries grew increasingly strained, it became apparent to the Government of Pakistan that it should expedite the introduction of Pakistan’s own central banking authority and its own currency. After consultation between the governments of India and Pakistan in early 1948, the ‘Pakistan (Monetary System and Reserve Bank) Order, 1947’ was amended to shorten the period in which the Reserve Bank of India was to be the monetary authority for Pakistan. The date on which this responsibility was to cease was changed from 30 September 1948 to 30 June 1948. In addition, it was mutually agreed that the undertaking by the Reserve Bank of India to supply the Pakistani Government with inscribed Indian notes, to replace the Indian notes circulating in Pakistan, was to be suspended from the same date.
The Second Issue
In April 1948, staff from Pakistan’s Ministry of Finance and the Reserve Bank of India were tasked with setting up the State Bank of Pakistan by 1 July 1948—a period of less than three months. This task was made all the more difficult because of a scarcity of skilled staff in the branch offices of the Reserve Bank of India in Pakistan. Following the partition of India and Pakistan, officers of the Reserve Bank of India who were stationed in Pakistan were given the choice of serving in either India or Pakistan. Unfortunately, most chose to work in India, leaving a great staff shortage in Pakistan; however, there was enough determination to overcome this problem.
Due to the short time allowed to establish the State Bank of Pakistan, no Act of Parliament could be passed authorizing the new bank, so the ‘State Bank of Pakistan Order, 1948’ was issued on 12 May 1948 under the authority vested in the Governor General of Pakistan by the provisions of Section 9 of the Indian Independence Act, 1947. The State Bank was established by the required date and immediately faced numerous problems, one of which was the shortage of inscribed notes to replace the Indian notes still in circulation. The mutual suspension of the agreement between the Indian and Pakistani governments, which had led to the early termination of the role of the Reserve Bank of India in Pakistan, had meant that insufficient inscribed notes had been delivered to Pakistan prior to the planned withdrawal of the Reserve Bank of India notes (on 30 September 1948).
Prior to the formation of the State Bank of Pakistan, government officials had realized the necessity for an emergency issue of notes to cover the anticipated shortfall of notes available for circulation. Therefore, they had commenced the preparation of an emergency issue shortly after the agreements between India and Pakistan had been suspended. Once the State Bank had been established, the responsibility for introducing the emergency issue fell to that authority.
The emergency issue of bank notes, in the denominations of 5, 10 and 100 rupees, was prepared by Thomas De La Rue & Company of Great Britain. The designs for the notes were similar to the 1-pound note of the Bank of England that circulated between 1948 and 1960. Thus, the patterns of the notes in the emergency issue were predominantly based on geometric designs. The 5-rupee note is deep blue, the 10-rupee note is officially described as red but is more an orange colour, and the 100-rupee note is rich green. To the right, on the front of each note, is a crescent and star in an oval, while to the left the denomination of each note is written in Urdu numerals in a similar oval. The denomination is repeated in Urdu at the bottom centre and in western numerals at the bottom right. On the front of the notes are panels at the bottom with the Urdu words for ‘Government of Pakistan’ repeated in small text. The promissory clause in Urdu on the front of the notes reads (for the 5-rupee note):
Government of Pakistan
I undertake that I will pay five rupees to the bearer on request, from the Government Treasury Karachi.
(At the bottom left) For the Government of Pakistan
(signed) Minister of the Treasury
The signatory was Ghulam Mohammed, Pakistan’s first Minister of Finance. The serial numbers for these notes commenced with a series that consisted of just six numerals. Once this sequence was complete, a serial number prefix of a single letter from the Latin alphabet was introduced, followed by six numerals to complete the serial number. Once this sequence was exhausted, a prefix of two Latin letters was introduced.
The back of the notes are dominated by geometric designs, with the words ‘Government of Pakistan’ written in English at the top of the note and the denomination written in English at the bottom of the note. The value is also repeated twice in Western and Urdu numerals. There is no watermark on any note in this series. Directed by clause 18 of the State Bank of Pakistan Order, the Bank released the emergency issue on 1 October 1948.
Under agreements with the Indian government, notes of the Reserve Bank of India that were not inscribed ‘Government of Pakistan’ were originally due to be withdrawn from circulation commencing on 30 September 1948. It appears that this agreement was honoured, despite the earlier suspension of the Reserve Bank of India as Pakistan’s monetary authority from 1 July 1948. This allowed the Reserve Bank of India notes to continue circulating between 1 July and 30 September.
The Third Issue
On 1 March 1949, five months after the emergency issue was released, 1-rupee and 2-rupee notes were issued. Both notes were printed by Bradbury Wilkinson & Company of Great Britain. The 1-rupee note was issued on behalf of the Government of Pakistan, while the 2-rupee note was issued by the State Bank of Pakistan (and was the first note issued in the name of that authority).
The 1-rupee note is green with an orange, pink and green under-print—on both the front and back. The front of the note has a predominantly geometric design with a star and crescent moon to the right. The watermark of a star and crescent moon is at the left of the note. The Urdu promissory clause on the front of the note translates as:
Government of Pakistan
One rupee
(Signed)
Secretary
Ministry of the Treasury
Government of Pakistan
The back of the note carries an illustration of the Naulakha Pavilion in the Lahore Fort, with Urdu text reading ‘Government of Pakistan’ at the top centre and ‘One Rupee’ below the circle encompassing the watermark. The denomination appears in Bengali numerals at the top left and bottom right, in Urdu at the top right and as a Western numeral at the bottom left.
The 2-rupee note is brown, with a blue, pink and green under-print. The front of the note carries an illustration of a tower, which forms part of the wall encircling the tomb of Jahangir in Lahore. The view of the tower is from within the courtyard and the fence on the top of the wall can be seen leading away from the tower. The Badshahi mosque in Lahore appears on the back of the note. The watermark, which appears to the left on the front of the note, is once again a star and crescent moon. The value of the note is written twice in Bengali numerals, once in Urdu and once in Western numerals—on both the front and back of the note. The Urdu text on the front of the note reads:
State Bank of Pakistan
translation of State Bank of Pakistan
(Issued on the Guarantee of the Government of Pakistan.)
I promise that I will pay two rupees to the bearer on request.
Two Rupees bold
(signed) Governor
State Bank of Pakistan.
The Urdu name of the ‘State Bank of Pakistan’, which appears on all notes issued by that authority, is more properly translated as ‘Treasury Bank of Pakistan’, but the authority is usually referred to in English as the ‘State Bank of Pakistan’. On the 2-rupee note the title ‘Treasury Bank of Pakistan’ is followed by the literal phrase ‘State Bank of Pakistan’ in Urdu. This is the only note issued in Pakistan where this second phrase is used. The back of the note has the following text in Urdu:
State Bank of Pakistan
(Issued on the Guarantee of the Government of Pakistan.)
Two Rupees.
The green 1-rupee note prepared by Bradbury Wilkinson & Co., and introduced in March 1949, was supplemented during the 1950-51 financial year by a blue and purple note of similar design prepared by Thomas De La Rue & Co. The front of the new note is blue with a pink, green and blue under-print; while the back is purple with a blue and pink under-print. Apart from the different colours, the front of the notes prepared by Bradbury Wilkinson and Thomas De La Rue are very similar, although there are distinct differences. On the newer note, the design of the star and crescent moon has the star positioned towards the centre of the note, whereas on the previous issue the design is mirrored, with the star near the edge of the note. Also, while the border patterns on the front and back of the notes are similar, different designs are used for the borders on each note. In addition, the under-print on the front of the newer note is less ornate than its predecessor. Finally, the rendition of the Bengali numeral for ‘one’ is different on each note. Similar minor differences appear on the back of the notes.
The 1- and 2-rupee notes were issued after the foundation of the State Bank of Pakistan and were issued by the authorities that were to take long term responsibility for their issue—the Government of Pakistan for the 1-rupee note and the State Bank of Pakistan for the 2-rupee note. However, their preparation probably preceded the establishment of the State Bank. The reason for supposing this, is that the deliberations that subsequently took place concerning the designs for the higher denomination notes released by the State Bank, did not include the two lower denomination notes.
Once the State Bank had been established, it not only took over the responsibility for the introduction of the emergency issue of Government notes and the new 1- and 2-rupee notes, but it also began investigations into the preparation of a permanent issue of bank notes. Under the direction of Shaikh Ahmed, the Vice Principal of the Mayo School of Arts and Crafts in Lahore, an assessment of the possibilities of design for a permanent issue were examined. In assessing the possibilities, various notes of existing central issuing authorities were studied, taking account of their design and the subjects depicted in the designs. It was ultimately decided that the subject of the illustrations on the notes of the State Bank should be either historical monuments or commodities of commercial importance.
A series of proposed designs was put to the Central Board of the State Bank by the Governor on 16 August 1948. Following some alterations to the designs and notice to Thomas De La Rue & Co. (the printers engaged for producing the notes), proofs were submitted to the Government for approval. Endorsement of the designs for the 5- and 10-rupee notes was given by the Government on 26 September 1949, but the design for the 100-rupee note was rejected. The reason for the rejection lay in the choice of illustration for the front of the note.
The 100-rupee note presented to the Government for approval had an illustration of the building used as the headquarters of the State Bank of Pakistan in Karachi on its front and the Mangla Regulator of the Upper Jhelum Canal in West Punjab on its back. The Government rejected this design because the building occupied by the State Bank in Karachi was a rented building, and they decided that a building not owned by the State Bank should not be depicted on a bank note.
The illustrations approved for the 5- and 10-rupee notes were:
5 rupees Front—A jute laden boat in a river
Back—The Khyber Pass
10 rupees Front—The Shalimar Gardens, Lahore, a beautiful garden built during the Moghul period of rule
Back—Tombs of renowned saints at Thatta in Sukkur, Sind.
The suggested colour of brown for the 10-rupee note was accepted by the Government, but they did not approve the suggested colour of blue for the 5-rupee note. Having rejected the suggested colour, they left the decision on the colour to the Board of the State Bank, with the colour purple being the ultimate choice.
The promissory clause on the front of the 5- and 10-rupee notes was the same for each note (except for the denomination). The Urdu text reads:
State Bank of Pakistan
Issued by the Government of Pakistan
Five rupees (large)
I promise to pay on request five rupees to the bearer of the note.
(signed) Governor
State Bank of Pakistan
The 5- and 10-rupee notes each carry the watermark of the crescent moon and star, and both notes have a solid security thread running to the right of centre. The two notes were issued on 1 September 1951.
Due to the failure to obtain approval for the design of a new 100-rupee note and due to the length of time required to gain approval from the Government for a new design, in March 1951 the Board of the State Bank decided to release a 100-rupee note in a similar pattern to the current issue as a temporary measure. Changes were therefore made to the design of the note which was currently circulating, with the new note being released on 15 September 1953—four years after the government had rejected the proposed new design. The changes to the note included the addition of a security thread, the change of colour from green to mauve, the replacement of the star and crescent on the right with a watermark (of the same symbols) and modifications to the text. Alterations to the text included the change in name of the issuing authority, from ‘Government of Pakistan’ to ‘State Bank of Pakistan’, and replacement of the promissory clause to that which was used on the new 5- and 10-rupee notes.
The new 100-rupee note has two varieties, with the varieties being determined by the area of issue being printed at the bottom of the note. When the State Bank of Pakistan had been founded, it had established three administrative regions that were administered by local boards who carried out duties as delegated to them by the central board of the Bank. The three regions were: Karachi, Lahore and Dhaka. When the 100-rupee note was modified, the Urdu text for ‘Karachi’ or ‘Dhaka’ was included at the bottom of the note. While this inclusion identified only two of the administrative regions, they were the principal cities in West and East Pakistan. Each variety of the 100-rupee note has two signature varieties.
There were two serial number sequences used in this series, one for the two lower denomination notes and one for the higher denomination notes. The higher denomination notes commenced with a sequence containing a single letter prefix, followed by a six-digit number. Once this sequence was complete, a serial number prefix of two letters was introduced. Once this sequence was complete, a fractional prefix of two letters over a number was introduced. The number below the letters starts at one, and increased as each cycle of the two letters was completed. For the 1- and 2-rupee notes, the serial number prefix is always a fractional prefix. The sequence commences at A/1 and increments to A/99 before moving to the next letter, i.e. B/1. Once each letter of the alphabet had been used, a sequence of two letters is used, e.g. AA/1.
The Pakistan State Security Printing Corporation
Until 1952 the notes produced for Pakistan had come from a variety of sources. The inscribed notes of the Reserve Bank of India, which were prepared for circulation in Pakistan, had been produced at the Government of India’s Security Printing Press at Nasik. The emergency issue of 5-, 10- and 100-rupee notes and the new 5- and 10-rupee notes had been produced by Thomas De La Rue and Company in Great Britain, while the 1- and 2-rupee notes had been produced in Great Britain by Bradbury Wilkinson and Company.
Shortly after independence the Government of Pakistan undertook to establish a security printing works for the production of bank notes, postage stamps and security documents. This resulted in the founding of the ‘Pakistan Security Printing Corporation’, which was owned partially by the British security printing company Thomas De La Rue & Co. Ltd. (40%) and partially by the Government of Pakistan (60%). The paid up capital for the Corporation was 7.5 million rupees. The foundation stone for the new printing works was laid in Karachi by the Governor General of Pakistan on 11 March 1949.
In deciding what methods of printing might be undertaken by the Pakistan Security Printing Corporation, the government weighed up the better quality intaglio process against the cheaper lithographic process. The decision came down in favour of the intaglio process, due to the ever-increasing problem of counterfeiting. Pakistan feared not only the counterfeiters of the criminal world, but since the partition of India and Pakistan, and the subsequent tensions between the two dominions, Pakistan feared the possibility of bank notes being printed by its neighbour in an effort to destabilize its economy. Consequently, it was felt that the printing method that provided the highest security for the notes was the option that should be chosen. This choice was perhaps aided by the knowledge that India’s printing presses used the lithographic process.
The first bank notes prepared by the Corporation were the 1- and 5-rupee notes, and they were released into circulation during the financial year 1952-53. These notes were of the same pattern as those previously prepared by Thomas de la Rue & Company in England; however, there was a change to the 1-rupee note printed by the Security Printing Corporation. Instead of the purple back that appeared on the notes printed in Britain, the notes printed in Pakistan had a blue back with no under-print. This new version of the 1-rupee note was placed into circulation on 31 January 1953.
Many years later, on 14 December 1963, the State Bank of Pakistan began operating its own printing press. This facility ultimately produced all bank notes issued by the State Bank. At some time after the new printing press went into production, the back of the 1-rupee note was modified to adopt the purple back with pink and blue under-print that had previously been used on the 1-rupee notes printed in Britain by Thomas De La Rue. Thus, there are two varieties of the 1-rupee note with purple backs. The simple distinguishing feature between the earlier Thomas De La Rue notes and the later notes printed in Pakistan is the change in font used for the serial numbers, with the De La Rue issue using a different, heavier font. The De La Rue issue has two signatories, Victor Turner and Abdul Qadir, with the notes signed by Abdul Qadir having a line separating the number beneath the letter in the serial number prefix. This line continued to be used with the 1-rupee notes with the blue back printed by the Security Printing Corporation, but only on notes up to series ‘E’ with the signature of Mumtaz Hasan, after which its use ceased.
Although the Pakistan Security Printing Corporation had commenced printing all lower denomination notes by July 1953, the 100-rupee notes of the third series, released in September 1953, were initially printed by Thomas De La Rue in the United Kingdom. This note was later produced by the Security Printing Corporation with the difference in printers being distinguished by the change in font for the serial numbers.
The Fourth Issue
The fourth issue commenced with a completely new 100-rupee note that was introduced on 24 December 1957. This new note possessed a dramatically different design to that of the notes already in circulation. When the first notes of the State Bank of Pakistan were being prepared, there was a strong Muslim influence that demanded no portraits or depictions of people be included on the bank notes—as Muslims reject the depiction of people due to concern that it may lead to idolatry. It is probable that the original artwork for some of the earlier designs had people in them, but when the illustrations were created for the bank notes, the people were omitted. An example of this might be the boat on front of the 5-rupee note of the third issue. Almost certainly, the original picture, from which the illustration was drawn, would have had a man holding the oar at the back of the boat. However, he is omitted in the illustration on the bank note.
When the new 100-rupee note was introduced, the front was dominated by a portrait of Mohammed Ali Jinnah, or the Quaid-e-Azam (Great Leader) as the Pakistanis refer to the founder of their nation. The inclusion of the portrait of Ali Jinnah on this bank note goes directly against the precept that portraits should not be used, but it also indicates the regard held for Jinnah. The use of the portrait of Ali Jinnah on this note set the trend for further releases in this series, a trend ultimately followed by all subsequent issues of the State Bank of Pakistan.
The 100-rupee note is green with an under-print of orange, purple and green. A watermark of Ali Jinnah appears at the bottom left and a solid security thread to the right of centre. On the back of the note is an illustration of the Badshahi Mosque in Lahore. The Urdu promissory clause on the front of the note reads:
State Bank of Pakistan
Issued by the Government of Pakistan
One hundred rupees
I promise to pay one hundred rupees to the bearer on request.
(signed) Governor
State Bank of Pakistan.
On the new 100-rupee note, and for the first time on a bank note issued in Pakistan, Bengali text is used on the front of the note. Previous issues had displayed only the value of the note in Bengali numerals on the front of the notes, while the notes of the third issue had the denomination written in Bengali text on their backs. This was scant recognition given to the language that was spoken by the people of East Pakistan, who constituted over half the population of Pakistan.
It is also interesting to note that the while the currency of Pakistan is the ‘Rupee’, this was not the name used by the people of East Pakistan for the currency, they called it the ‘Taka’. While the Urdu and English text on the bank notes refer to ‘Rupees’, the Bengali text refers to ‘Taka’. (The Taka ultimately became the national currency of Bangladesh following East Pakistan’s secession from Pakistan.)
The fourth issue continued with the introduction of a new 50-rupee note on 12 June 1964. This note introduced a design that carried the full details of the promissory clause and the designation of the signatory in Urdu and Bengali. The use of two languages for the promissory clause was subsequently adopted for all other notes issued in this series. The promissory clause, which appears to either side of the portrait of Ali Jinnah, was modified slightly to that used on the 100-rupee note and read (in Urdu on the right and Bengali on the left):
The State Bank of Pakistan will pay
Fifty rupees
on request to the bearer
Issued by the Government of Pakistan
(signed) Governor
State Bank of Pakistan
On the back of the note, English was used for the name of the issuing authority and the denomination of the note. The back also bears an illustration of three jute laden boats on a river, with stands of jute drying on the bank of the river. The watermark is once again of Ali Jinnah and the security thread is to the right of the note.
The next note to be issued in the fourth series was the 500-rupee note, which was introduced on 28 October 1964. This note is very similar to the 50-rupee note, introduced just four months earlier. The note is red with a yellow, pink and green under-print, with a portrait of Ali Jinnah on the front and the new headquarters of the State Bank of Pakistan on the back. The watermark and security thread are the same as for the 50-rupee note.
On 19 September 1966 the 5-rupee note was introduced and its design followed the pattern of the 50- and 500-rupee notes released two years earlier. Purple, with a blue, pink and purple under-print, the note has a tea garden illustrated on its back.
The final note to be introduced in this series, some thirteen years after the 100-rupee note was introduced, was the 10-rupee note, which was released on 16 November 1970. Differing in design from the previous three notes, the portrait of Ali Jinnah appears at the left, while the promissory clauses in Bengali and Urdu appear in the centre of the note. The watermark of Ali Jinnah is on the right and the security thread is now at left of centre. Predominantly brown, the front of the note has a blue, green, pink and orange under-print. The back of the note carries the same picture of the Shalimar Gardens that appeared on the front of the previous 10-rupee note.
The 100- and 500-rupee notes in this issue each have a number of varieties, which are based on the use of the name of an administrative region of the State Bank. The 100-rupee note was initially issued with the name of one of three administrative regions printed in Urdu at the bottom centre of the note, either ‘Karachi’, ‘Lahore’ or ‘Dhaka’. However, this feature was discontinued after a number of years, and the fourth variety of this note has no regional name printed on it. The 500-rupee note also has one of three regional names printed on it, but the region’s name is printed in Urdu and Bengali. Unlike the 100-rupee note, the 500-rupee note was not issued without a region’s name; so there are three varieties of the 500-rupee note and four varieties of the 100-rupee note.
The serial number sequence for the notes of the fourth issue repeats the sequence used by the third issue. However, only the 5-rupee note appears to have progressed its sequence to the point where a fractional prefix was required.
The Fifth Issue
The fifth series of bank notes issued in Pakistan was an emergency issue, prepared due to the civil war that resulted in independence for East Pakistan—as the new country of Bangladesh. In March 1971 East Pakistan had declared itself independent, following the imposition of martial law after the Pakistani government had failed to recognize the results of an election; an election that had given power to the dominant political party in East Pakistan.
During the war, which lasted nine months, the banks in East Pakistan were subject to capture and looting by various groups in East Pakistan. This meant that many bank notes of the State Bank were stolen, posing a liability to the Bank. As well as the outright theft of currency, there were Bengali nationalists who were using the bank notes as instruments of propaganda. Bundles of bank notes were being stamped with slogans in Bengali and English, slogans such as ‘Joy Bangla’ and ‘Bangla Desh’, then being released into circulation in East Pakistan.
Shortly after the war commenced, the Pakistani government decided to take action against the looters and propagandists. In a surprise announcement on 8 June 1971 the Pakistani authorities declared that all currency carrying inscriptions of ‘Joy Bangla’, ‘Bangla Desh’ or any similar expression, were no longer legal tender and, in addition, all 100- and 500-rupee notes were no longer to be legal tender. This action, although causing a great deal of consternation amongst the public of Pakistan, was a decisive measure taken to protect the stability of the Pakistani currency. The State Bank allowed a short period whereby people could present the demonetized large denomination notes for credit by way of receipt (for later redemption in lower denomination notes), but the public was warned that the serial numbers of all notes presented would be checked to ensure that the notes were not part of any looted currency.
After Bangladesh had gained its independence, Pakistan realised that it was necessary to demonetize the remaining notes in circulation and prepare a new issue of bank notes that would be unavailable to the people of Bangladesh. As long as Bangladesh continued to use the notes of the State Bank of Pakistan, there existed a liability that the State Bank would be loathe to cover. In order to introduce a new series of bank notes, the existing designs for the 1-, 5-, 10- and 50-rupee notes were utilized, but the colours were changed. The 1-rupee note became brown, the 5-rupee note became ochre, the 10-rupee note became green and the 50-rupee note became blue. The only new note not based on an existing design was the 100-rupee note, which was produced from a design prepared after the demonetization of the previous 100-rupee notes. This design is similar to the 10-rupee note, with Ali Jinnah to the left. That this design was intended for use in unified Pakistan, even though it was issued after Bangladesh’s independence, can be seen from the use of Bengali and Urdu text on the notes, whereas all notes issued after this emergency issue carried only Urdu text.
Unable to produce all notes of the emergency issue with the necessary immediacy, the larger denomination notes were the first to be released. The 50- and 100-rupee notes were issued on 1 March 1972, less than three months after Bangladesh had gained its independence on 16 December 1971. Three months later, on 5 June 1972, the 5- and 10-rupee notes were released. A short time later the new 1-rupee note was issued. The serial number sequences for this issue are the same as for the previous two issues.
* * * * *
This brings us to the end of the notes issued in Pakistan from the period 1947 to 1972. Following several years in which the fifth issue circulated, Pakistan released a new series of notes, based on entirely new designs.
.
The following lists detail the signatories of the bank notes, the bank note types, and the signature varieties of the bank notes described above. There are three lists of signatories, these being: the early signatories, the Governors of the State Bank of Pakistan, and the Secretaries of the Ministry of the Treasury.
Early Signatures
Signature
|
Name
|
Period of office
|
 |
C. E. Jones
(Secretary, Finance Department — Govt. of India)
|
(Unknown)
|
 |
C. D. Deshmukh
(Governor, Reserve Bank of India)
|
15 August 1947 to
30 June 1949
|
 |
Ghulam Mohammed
(Minister of the Treasury, Pakistan)
|
1948 to 1951
|
Governors of the State Bank of Pakistan
Signature
|
Name (and reference id)
|
Period of Office
|
 |
G1. Zahid Hussain
|
June 1948 to
19 July 1953
|
 |
G2. Abdul Qadir
|
20 July 1953 to
19 July 1960
|
 |
G3. Shujaat Ali Hasnie
(Urdu signature)
|
20 July 1960 to
19 July 1967
|
 |
G4. Shujaat Ali Hasnie
(English signature)
|
As above
|
 |
G5. Mahbubur Raschid
(Bengali & Urdu signatures)
|
20 July 1967 to
30 June 1971
|
 |
G6. Shakirullah Durrani
|
1 July 1971 to
21 December 1971
|
 |
G7. Ghulam Ishaq Khan
|
22 December 1971 to
November 1975
|
 |
G8. S. Osman Ali
|
December 1975 to
14 July 1978
|
Notes carrying signature No. G5 have often been described as a peculiar variety with ‘two signatures’, as if two different people had signed the notes. While there are in fact two signatures, they belong to the same man, with one being in Benagli and the other in Urdu. Therefore, notes carrying this signature variety should not be distinguished as anything but a signature variety.
Secretaries of the Ministry of the Treasury
Signature
|
Name (and reference id)
|
Period of office
|
 |
S1. Victor Turner
|
14 January 1947 to
1 February 1950
|
 |
S2. Abdul Qadir
|
1 February 1950 to
25 July 1952
|
 |
S3. Mumtaz Hussain
|
25 July 1952 to
(Unknown)
|
 |
S4. Shujaat Ali Hasnie
|
(Unknown)
|
 |
S5. Mohammed Ayub
|
(Unknown)
|
 |
S6. Hafiz Abdul Majid
|
1 November 1958 to
19 June 1961
|
 |
S7. Mumtaz Mirza
|
19 June 1961 to
28 February 1963
|
 |
S8. Mirza Muzaffar Ahmad
|
6 March 1963 to
30 May 1966
|
 |
S9. Ghulam Ishaq Khan
|
31 May 1966 to
8 September 1970
|
 |
S10. A. G. N. Kazi
|
8 September 1970 to
20 August 1973
|
 |
S11. Abdur Rauf Shaikh
|
20 August 1973 to
6 October 1977
|
It can be seen that a number of the Governors of the State Bank of Pakistan were also, at some stage, Secretary of the Ministry of the Treasury.
First Issue — Inscribed Indian Notes
All notes issued on 1 April 1948.
1. 1 Rupee
Signature of C. E. Jones.
2. 2 Rupees *
Signature of C. D. Deshmukh.
3. 5 Rupees
Signature of C. D. Deshmukh.
4. 10 Rupees
Signature of C. D. Deshmukh.
5. 100 Rupees
Signature of C. D. Deshmukh.
* The 2-rupee note has black serial numbers, however the Standard Catalog of World Paper Money lists a second variety of this note with red serial numbers. The existence of such a variety is in doubt. While it may exist, it has not appeared on the collector market and it is suspected that notes of the Reserve Bank of India with red serial numbers may have been overprinted by someone trying to produce counterfeit inscribed notes.
Second Issue — Emergency Issue
All notes issued on 1 October 1948.
6. 5 Rupees
Signature of Ghulam Mohammed.
7. 10 Rupees
Signature of Ghulam Mohammed.
8. 100 Rupees
Signature of Ghulam Mohammed.
Third Issue — First State Bank Issue
9. 1 Rupee
Issued 1 March 1949.
Signature of Victor Turner (S1).
10. 2 Rupees
Issued 1 March 1949.
Signature of Zahid Hussain (G1).
11. 5 Rupees
Issued 1 September 1951.
i Signature of Zahid Hussain (G1).
ii. Signature of Abdul Qadir (G2).
iii Signature of Shujaat Ali Hasnie (Urdu signature, G3).
12. 10 Rupees
Issued 1 September 1951.
i. Signature of Zahid Hussain (G1).
ii. Signature of Abdul Qadir (G2).
iii. Signature of Shujaat Ali Hasnie (Urdu signature, G3).
iv. Signature of Mahbubur Raschid (G5).
13. 100 Rupees
Issued 15 September 1953.
a. Karachi.
i. Signature of Zahid Hussain (G1).
ii. Signature of Abdul Qadir (G2).
b. Dhaka.
i. Signature of Zahid Hussain (G1).
ii. Signature of Abdul Qadir (G2).
14. 1 Rupee
a. Blue front, purple back (TDLR). Issued 1952/53.
i. Signature of Victor Turner (S1)
ii Signature of Abdul Qadir (S2)
b. Blue front and back (State Security Printing Corporation). Issued 31 January 1953.
i. Signature of Abdul Qadir (S2)
ii. Signature of Mumtaz Hussain (S3)
iii. Signature of Shujaat Ali Hasnie (S4)
iv. Signature of Mohammed Ayub (S5)
v. Signature of Hafiz Abdul Majid (S6)
vi. Signature of Mumtaz Mirza (S7)
c. Blue front, purple back (State Bank Press). Issued after December 1963.
i. Signature of Mirza Muzaffar Ahmad (S8)
ii. Signature of Ghulam Ishaq Khan (S9)
iii. Signature of A. G. N. Kazi (S10)
Fourth Issue — The First Ali Jinnah Portrait Issue
15. 5 Rupees
Issued 19 September 1966.
i. Signature of Shujaat Ali Hasnie (English signature, G4).
ii. Signature of Mahbubur Raschid (G5).
iii. Signature of Shakirullah Durrani (G6).
16. 10 Rupees
Issued 16 November 1970.
i. Signature of Mahbubur Raschid (G5).
ii. Signature of Shakirullah Durrani (G6).
17. 50 Rupees
Issued 12 June 1964.
i. Signature of Shujaat Ali Hasnie (English signature, G4).
ii. Signature of Mahbubur Rashid (G5).
iii. Signature of Shakirullah Durrani (G6).
18. 100 Rupees
Issued 24 December 1957.
a. Dhaka
i. Signature of Abdul Qadir (G2).
ii. Signature of Shujaat Ali Hasnie (Urdu signature, G3).
b. Karachi
i. Signature of Abdul Qadir (G2).
ii. Signature of Shujaat Ali Hasnie (Urdu signature, G3).
c. Lahore
iii. Signature of Abdul Qadir (G2).
iv. Signature of Shujaat Ali Hasnie (Urdu signature, G3).
d. Without region.
i. Signature of Shujaat Ali Hasnie (Urdu signature, G3).
ii. Signature of Mahbubur Raschid (G5).
19. 500 Rupees
Issued 28 October 1964.
a. Dhaka
i. Signature of Shujaat Ali Hasnie (English signature, G4).
b. Karachi
i. Signature of Shujaat Ali Hasnie (English signature, G4).
ii. Signature of Mahbubur Raschid (G5).
c. Lahore
i. Signature of Shujaat Ali Hasnie (English signature, G4).
Fifth Issue — Emergency Issue
20. 1 Rupee
Issued 1972-73.
i. Signature of A. G. N. Kazi (S10).
ii. Signature of Abdur Rauf Shaikh (S11).
21. 5 Rupees
Issued 5 June 1972.
i. Signature of Shakirullah Durrani (G6).
ii. Signature of Ghulam Ishaq Khan (G7).
iii. Signature of S. Osman Ali (G8).
22. 10 Rupees
Issued 5 June 1972.
i. Signature of Shakirullah Durrani (G6).
ii. Signature of Ghulam Ishaq Khan (G7).
23. 50 Rupees
Issued 1 March 1972.
i. Signature of Shakirullah Durrani (G6).
ii. Signature of Ghulam Ishaq Khan (G7).
iii. Signature of S. Osman Ali (G8).
24. 100 Rupees
Issued 1 March 1972.
i. Signature of Ghulam Ishaq Khan (G7).
ii. Signature of S. Osman Ali (G8).
The Bank Notes of Pakistan 1972 – 2000
Peter Symes
First published in the
International Bank Note Society Journal
Volume 39, No.4, 2000
Collectors considering the acquisition of Pakistani bank notes issued after 1972 might be forgiven for considering these series as quite simple, when compared to the complex issues that preceded them. However, the later series contain a wealth of varieties, if not a wealth of types, and these series can prove challenging to complete, particularly in higher grades of condition. To complete these series, one must not only consider plate changes, one must also consider signature types and serial number varieties. There are very few very expensive notes in these series and yet it is almost impossible to acquire a complete set. Time and patience are the keys, but not the guarantors, to success.
Following the civil war in 1971, which resulted in the secession of East Pakistan as the new nation of Bangladesh, the State Bank of Pakistan issued a new series of bank notes. Introduced in 1972, these notes were, with the exception of the 100-rupee note, colour changes to existing designs. However, this issue was a temporary issue, designed to allow the demonetization of the previous issue.
The secession of East Pakistan called for changes to the bank notes issued by the State Bank of Pakistan. There was now no need for Bengali text to appear on the notes and the images of tea gardens and jute-laden boats were no longer appropriate for bank notes circulating in the new Pakistan. Having just introduced a new series of bank notes, even though it was an emergency issue, there was no urgency to introduce a new series, but plans were put in place to facilitate it.
The first note in the new generation of notes was a 1-rupee note, introduced around June or July 1974. The issue of this note initially appears slightly odd, as there was no need to remove symbols of East Pakistan from the 1-rupee notes. This particular denomination had never carried any Bengali text and the only Bengali character appearing on the notes had been the Bengali numeral for ‘1’. Also, the 1-rupee note had always carried an illustration of the Naulakha Pavilion in the Lahore Fort on its back – an image belonging to West Pakistan.
(It is of interest that the Pakistan State Security Printing Corporation holds a printing cylinder of an unissued 1-rupee note with Bengali text on it. It is not known when this design was prepared, but it may have been prepared as part of the continuing program, prior to the civil war, of presenting both Urdu and Bengali text on the bank notes.)
It appears that the new 1-rupee note issued in 1974 was the first of a planned series of notes that included common elements of design. For reasons described below, this series was never completed. The new 1-rupee note is predominantly blue, with a yellow and purple under-print on the front. A crescent moon and star are at the right and the following Urdu text appears in the centre of the note:
Government of Pakistan
One Rupee
(signature)
Secretary, Ministry of the Treasury
Government of Pakistan
Along the bottom of the note is a panel in which the words ‘One Rupee’ are repeated in four regional languages. Starting from the right, the text in Arabic script reads: ‘Ik rupee (Punjabi) Hik rupee (Sindhi) Yo rupee (Pushto) Yuk rupee (Baluchi)’.
The back of the note is also blue, but it has a pink under-print. The illustration on the back depicts the monument known as ‘Minar-i-Pakistan’, located in Iqbal Park, Lahore. Built in 1960 and sixty metres tall, it commemorates the signing of the ‘Pakistan Resolution’ by the All-India Muslim League on 23 March 1940. This resolution led to the founding of Pakistan.
This particular 1-rupee note has had a checkered career in the Standard Catalog of World Paper Money (SCWPM). It was not catalogued for many years, but an attempt was made to describe it in the Third Edition of Volume Three. However, it was not well-described and its description was dropped in subsequent editions. It has now been satisfactorily described in the Sixth Edition of Volume Three of the SCWPM as No. 24. The note is very similar to the note that later replaced it (No. 24A in the Sixth Edition), but the front of the note has the distinct difference of the panel containing the four languages.
The circulation of this 1-rupee note was short-lived. It was replaced because the use of the four regional languages was seen as promoting provincialism, which was considered inappropriate at that time. The decision to withdraw the 1-rupee note with ‘four languages’ also affected the planned release of other denominations. The Museum of the State Bank of Pakistan in Karachi has a display that contains a 5-rupee note with the ‘four languages’ included in the design. This note was never issued. It is probable that this 5-rupee note was part of a complete series that used the theme of the ‘four languages’ throughout their designs; but the plans of the issuing authorities were modified after criticism following the introduction of the 1-rupee note.
Due to the censure of the design with the four regional languages, the 1-rupee note was replaced with a modified design that supplanted the panel containing the ‘four languages’ with a broader panel that carried a decorative design. This new 1-rupee note (SCWPM No. 24), which would be familiar to most collectors, then circulated for a number of years. However, it is not known when the new note was introduced into circulation.
On 12 July 1976, in the key implementation of the new series of bank notes, 5-, 10- and 100-rupee notes were introduced. The notes in this series carry a common layout on the front of each note, but the specific design of each note is quite different. So, while the front of each note is dominated by a portrait of Mohammed Ali Jinnah to the right and an area reserved for the watermark at the lower left, the individual borders and decorations are quite distinct.
Each denomination carries the same Urdu promissory clause (apart from the denomination) in its centre. The clause reads (for the 5-rupee note):
State Bank of Pakistan
Five Rupees
will be paid on request to the bearer.
Issued under the guarantee of the Government of Pakistan
(signed) Governor
State Bank of Pakistan
The other elements common to each denomination are the solid security thread that runs to the right of centre, and the watermark of Mohammed Ali Jinnah at the lower left.
The back of each note carries a different illustration, but all notes have common features. The emblem of the State Bank of Pakistan appears on each denomination, as does the name of the ‘State Bank of Pakistan’ in English. Also common to the back of each denomination is the area is reserved for viewing the watermark and the manner of representing the value of the note. The denomination appears once in Urdu numerals, once in Western numerals, and is written once in English text.
The 5-rupee note is predominantly brown, with an under-print of pink, orange and purple. The illustration on the back of this note is of the Khajak railway tunnel in Baluchistan. The tunnel is on the railway line from Quetta to Chaman, which is on Pakistan’s border with Iran.
The 10-rupee note is predominantly green, with an under-print of yellow, purple and pink. The back of this note carries a view of the ancient city of Moenjodaro (or Mohenjadaro). This city was one of the principal settlements in the great Indus valley civilization that predated the ancient Egyptian civilization. The 10-rupee note is unusual for this series, in that only one colour is used to print the back of the note.
The 100-rupee note is predominantly red, with an under-print of orange and khaki. The Islamic College in Peshawar is depicted on the back. The front and back of this note carry intaglio printing in orange and red.
On 29 December 1977, a year after the release of the 5-, 10- and 100-rupee notes, the 50-rupee note was introduced. Sharing the common layout with the other notes in this series, the 50-rupee note is predominantly burgundy and purple, with an under-print of orange, blue, brown and pink. The main gates of the great fort at Lahore appear on its back. Quite noticeable on the front and the back, is the use of two colours for the intaglio printing.
Although a new 1-rupee note was the first note to be introduced in this new generation of bank notes, this denomination was also the last to be added to this series. Placed into circulation on 24 March 1981, this second 1-rupee note must be considered as part of this series, as the features that define the next two series affect this note in the same manner as the higher denomination notes. (However, the date of its release might more properly marry it to the following series). The principal design features on the front of the new multi-coloured note are a crescent moon and star at the right, an ornamental design in the centre of the note, and an octagonal area to the left that holds the watermark of a crescent moon and star. A single serial number appears in the upper centre of the note. The promissory clause on the front of the note remains unchanged from the previous 1-rupee note.
The back of the note carries an illustration of the tomb of Allama Mohammed Iqbal, the Punjabi poet-philosopher who first proposed the idea of a Muslim state in 1930. Iqbal is venerated in Pakistan both for his poetry and as a founding father of the nation. The text on the back of the note is in English, identifying the issuing authority and the denomination.
The notes of the sixth series remained in circulation for several years without any modification, apart from a change in signatory. Initially signed by S. Osman Ali, the notes issued by the State Bank were later signed by A. G. N. Kazi. The 1-rupee notes of this series, issued by the Government of Pakistan, carry only the signature of Habibullah Baig.
During the 1981/82 financial year, all denominations were released with a single modification, creating the seventh issue of notes. The modification consisted of the addition of a line of Urdu text on the back of each note. The text reads ‘Rizq-e-Halal ain Ibadat Hai’ which can be translated as ‘Legal livelihood is equal to prayer’ or ‘Rightful earning is equivalent to prayers’. All notes of this series issued by the State Bank carry the signature of A. G. N. Kazi.
The 1-rupee notes issued by the Government continued to carry the signature of Habibullah Baig but, as well as being modified to carry the new line of Urdu text, they underwent one further change. The 1-rupee notes now began to appear with the serial number at the lower right, as well as being issued with the serial number in the upper centre. This dual positioning of the serial number continued for many years, creating two serial number varieties for each signature variety. It is believed that the State Bank possessed two different types of numbering machines, with each configured to print the serial number in a different place on the 1-rupee notes.
Two years later, during the 1983/84 financial year, the line of Urdu text on the back of the notes was modified to read ‘Husool-e-Rizq-e-Halal Ibadat Hai’, which can be translated as ‘Earning legal livelihood is akin to prayer’ or ‘To search for rightful earning is equivalent to prayers’. This modification defines the eighth series of bank notes, a series that has proved durable – with the notes of this issue still in circulation at the end of the century.
However, as well as the five denominations inherited from the seventh series, three new denominations have been added to the eighth series. The three additional denominations are the 2, 500 and 1000 rupees.
The 2-rupee note was introduced on 24 August 1985. This is only the second note of this denomination to be issued in Pakistan, being the successor to the short-lived issue of March 1949. Once again issued under the authority of the State Bank of Pakistan, this note is predominantly purple, with an under-print of blue and pink on the front of the note and an under-print of blue on the back. The crescent moon and star are used as the principal design feature on the front of the note, as well as being employed for the watermark.
The back of the note carries an illustration of the Badshahi mosque in Lahore, one of the oldest and largest mosques in Pakistan. The design used for the back of this note is based on the back of the first 2-rupee note, issued thirty-six years previously. Of particular interest on the back of this note is the text, which is all in Urdu. The absence of English is exceptional in this series. While the first 2-rupee note and all earlier 1-rupee notes carried only Urdu text, all notes from the sixth series onwards carry English text on the back of the notes. It would appear that the absence of English text on the back of the 2-rupee note is simply due to the back of the previous 2-rupee note being replicated for this issue.
The 500-rupee note was introduced into circulation on 1 April 1986. The front and back of this note are printed with blue-green and olive-green intaglio designs, under which is printed a multi-coloured design, principally of green, orange and pink. While still dominated by a portrait of Mohammed Ali Jinnah, the simple lines of the lower denominations has been abandoned in favour of flowing panels and patterns created with flowers and leaves.
The new notes carry a watermark of Mohammed Ali Jinnah, in the same manner as the other notes in this series, but there is now the new feature of a micro-printed security thread to the right of centre. This is the first note in the Pakistani issues to carry this type of security thread. The micro-printing on the thread reads ‘STATE BANK OF PAKISTAN’ (in English). The security thread also fluoresces under ultra-violet light. The back of the 500-rupee note carries an illustration of the headquarters of the State Bank of Pakistan in Karachi.
The 1000-rupee note was introduced on 18 July 1988. Printed on the front and back in dark-blue intaglio printing, there is a green, blue and orange under-print on both sides of the note. Like the other notes in this series, the image of Mohammed Ali Jinnah appears as the watermark and as the dominant design feature on the front of the note. The back of the note carries an illustration of the tomb of the great Moghul ruler Jahangir. The same style of micro-printed thread that is used in the 500-rupee note is used in this note. An added security feature for the 1000-rupee note is the use of fluorescent ink on the front of the note. The bright orange highlights in the design to the left, right and centre of the note all fluoresce under ultra-violet light.
There have been six signatories to the bank notes issued by the State Bank of Pakistan in this series. The six Governors who have signed the notes are: A. G. N. Kazi, Wasim Oun Jafrey, Imtiaz A. Hanafi, Qasim Parekh, Dr. Muhammad Yaqub and Ishrat Husain. All denominations, with the exception of the 1000-rupee note, carry all six signatures. The 1000-rupee note carries the signatures of Wasim Oun Jafrey, Imtiaz A. Hanafi, Dr. Muhammad Yaqub and Ishrat Husain.
The serial numbers of the sixth, seventh and eighth series are a continuation of the same sequence. The notes issued by the State Bank commenced with a single-letter prefix followed by a six-digit number. Once this sequence was exhausted, a double-letter prefix was used. Once the second sequence was complete, the prefix became a fractional prefix, with two letters over a single numeral, with the numeral incrementing once the two letters had finished their cycle. However, during the eighth series this sequence was dropped in favour of a serial number that consisted of a prefix of three letters followed by a seven-digit number.
For those collectors who are interested in obtaining examples of the different styles of serial numbers, it should be noted that Imtiaz A. Hanafi held the office of Governor for two separate periods, separated by the twelve-month governance of Qasim Parekh (see the chart at the end). Therefore, for three denominations (5, 10 and 100 rupees) I. A. Hanafi’s signature appears on notes with different styles of serial numbers.
The 1-rupee notes carry a different style of serial number to the notes issued by the State Bank of Pakistan. For the 1-rupee notes, the single letter in the fractional prefix remains static while the number below increments from 1 to 99 (i.e. A/1 to A/99). The prefix is followed by a six digit number. When the cycle of the number in the fractional prefix is complete, the letter of the prefix increments in alphabetical order and the number returns to ‘one’ (i.e. A/99 is followed by B/1). When the full sequence of the single letter is complete, a second letter is included, with the right-hand letter incrementing through its cycle (i.e. AA/1 to AA/99 followed by AB/1, etc.) When its cycle is complete the left-hand letter changes to the next letter and the right-hand letter moves once more through its cycle (as the number completes its cycle for each pair of letters, i.e. AZ/99, BA/1, BA/2, etc.) The serial number for the 1-rupee notes changed with the notes signed by Javed Talat. The new serial numbers have a two letter prefix and a seven-digit number.
Replacement notes are known to have been used for the eighth series of notes and may have been used much earlier. For those serial numbers that have a fractional prefix (all denominations), the prefix for the replacement notes is a number over the letter ‘X’. The notes that have the new serial number prefix of three letters, have replacement notes with the single letter prefix of ‘X’.
Apart from changes to signatures and serial number prefixes, the notes of the eighth series have had few varieties, despite the length of time they have been in circulation. Collectors of Pakistani notes will be aware of common changes in shades of colours on the notes and of frequent occurrences of mismatched serial numbers, but these do not really constitute ‘varieties’. However, there is at least one variety of watermark. The 10-rupee note signed by Dr. Yaqab has been recorded with a watermark that appears slightly squashed (from top to bottom). Most noticeable is the size and shape of the hat worn by Ali Jinnah.
On 14 August 1997 Pakistan celebrated fifty years as an independent nation. To commemorate this occasion the State Bank of Pakistan issued a special 5-rupee note, which was released into circulation on 13 August 1997. With a purple border and portrait of Mohammed Ali Jinnah, the front of the note has a green and orange under-print. To the left, above the watermark of Jinnah, is a star-burst design that is encircled by the Urdu phrase ‘Fifty Year Anniversary of Freedom’ and ‘1947 – 1997’ in western numerals. In the centre of the design is the number ‘50’ in Urdu numerals. The promissory clause is the same as for previous notes in this series, but the serial number differs. The serial number prefix for all the commemorative notes is ‘COM’.
The back of the note carries a picture of the tomb of Shah Rukn-e-Alam, a 12-13th century saint. Located in the city of Multan, in the Punjab, the tomb was built between 1320 and 1324 AD. In 1983 it was awarded the Aga Khan Award for architecture. (The Award recognizes architecture that influences modern design, no matter the age of the building.)
This brings us to the end of the modern bank notes of Pakistan. If the changes involving the lines of Urdu text on the backs of the notes are discounted, then the current designs have been in circulation for about twenty-four years. (The 1- and 2-rupee notes are no longer being issued, although they can still be found in circulation.) This is quite a lengthy time for most issues and it is quite likely that a new series of notes could be expected in the near future. However, for the moment the notes of the sixth, seventh and eighth series remain a fascinating target for a dedicated collector.
The following chart shows the signatures of the Governors of the State Bank of Pakistan who signed the notes described above, and their periods of office. This chart continues from the list of Governors shown in The Banknotes of Pakistan 1947-1972.
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G8. S. Osman Ali
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1 December 1975 to 14 July 1978
|
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G9. A. G. N. Kazi
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15 July 1978 to 9 July 1986
|
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G10. Wasim Oun Jafrey
|
10 July 1986 to 16 August 1988
|
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G11. Imtiaz A. Hanafi
|
November 1988 to 6 September 1989 (First Tenure)
1 September 1990 to 19 July 1993 (Second Tenure)
|
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G12. Qasim Parekh
|
7 September 1989 to 31 August 1990
|
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G13. Dr. Muhammad Yaqub
|
20 July 1993
|
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G14. Ishrat Husain
|
24 November 1999
|
The following chart shows the signatures of the Secretaries of Finance who signed the 1-rupee notes discussed in this article. This chart continues from the list of Secretaries shown in The Banknotes of Pakistan 1947-1972.
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S.11 Abdur Rauf Shaikh
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20 August 1973 to
6 October 1977
|
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S12. Aftab Ahmad Khan
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9 October 1977 to
1 August 1979
|
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S13. Habibullah Baig
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1 August 1979 to
7 June 1987
|
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S14. Izharul Haq
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8 June 1987 to
14 August 1988
|
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S15. Saeed Ahmad Qureshi
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15 August 1988 to
21 January 1989 (First Tenure)
September 1990 to
31 July 1991 (Second Tenure)
|
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S.16 R. A. Akhund
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22 January 1989 to
August 1990
|
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S.17 Qazi Alimullah
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1 August 1991 to
24 September 1992 (First Tenure)
28 October 1993 to
30 June 1994 (Second Tenure)
|
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S18. Khalid Javed
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25 September 1992 to
24 April 1993
|
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S19. Javed Talat
|
30 June 1994 to
1 March 1996
|
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S20. Mian Tayeb Hasan
|
2 March 1996 to
31 October 1996
|
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S21. Moeen Afzal
|
1 November 1996 to
1998
|
The following list summarizes the notes of the sixth, seventh and eighth series, indicating the dates of issue and the signature varieties.
Sixth Issue
1 rupee (blue with four languages – circa July 1974)
Abdur Rauf Shaikh (S11)
1 rupee (blue with decorative panel – Issue date unknown)
Abdur Rauf Shaikh (S11)
Aftab Ahmad Khan (S12)
Habibullah Baig (S13)
5 rupees (12 July 1976), 10 rupees (12 July 1976), 50 rupees (29 December 1977) and 100 rupees (12 July 1976)
S. Osman Ali (G8)
A. G. N. Kazi (G9)
1 rupee (multi-coloured – 24 March 1981)
Habibullah Baig (S13)
Seventh Issue
All notes carry the first line of Urdu text and were introduced during the 1981/82 financial year.
1 rupee
Habibullah Baig (S13. Varieties exist with serial number positioned in the centre or at the lower right.)
5 rupees, 10 rupees, 50 rupees and 100 rupees
A. G. N. Kazi (G9)
Eighth Issue
All notes carry the second line of Urdu text and, unless signified otherwise, were introduced during the 1983/84 financial year.
1 rupee
(Signatories marked with an asterisk have both varieties of serial number positioning; i.e. at centre and at lower right.)
Habibullah Baig (S13) *
Izharul Haq (S14) *
Saeed Ahmad Qureshi (S15)*
R. A. Akhund (S16) *
Qazi Alimullah (S17) *
Khalid Javed (S18)
Javed Talat (S19)
Mian Tayeb Hasan (S20)
Moeen Afzal (S21)
2 rupees (24 August 1985) 5 rupees, 10 rupees, 50 rupees, 100 rupees and 500 rupees (1 April 1986)
A. G. N. Kazi (G9)
Wasim Oun Jafrey (G10)
Imtiaz A. Hanafi (G11)
Qasim Parekh (G12)
Dr. Mohammed Yaqub (G13)
Ishrat Husain (G14)
1000 rupees (18 July 1988)
Wasim Oun Jafrey (G10)
Imtiaz A. Hanafi (G11)
Dr. Mohammed Yaqub (G13)
Ishrat Husain (G14)
Commemorative issue
5 rupees (13 August 1997)
Dr. Mohammed Yaqub
My thanks go to Mr. Yahya Qureshi and Dr. Munaf Billoo for their assistance in preparing this study.
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