Paper GBP £ 10 Note Expiring
All banks in Pakistan are advised that GBP £ 10 Note is going to expire from 1st March 2018 with immediate effective date. The note with Charles Darwin will cease to be legal tender and Jane Austen GBP £ 10 Note has been replaced the same and should be accepted as usual.
Moreover, Islamic and Conventional Branches in Pakistan are advised to discontinue accepting / exchanging GBP £ 10 Note with old feature of Charles Darwin (on the back side of currency note).
Obviously branches are holding a large number of such notes in the stock position.
Head Office of Bank in Pakistan are strictly advised to get the quantity obtained from branches (IBG/Conventional) under their domain and submit stock position to the State Bank of Pakistan through Head Offices for onward disposal arrangements with Bank of England.
Compliance Division of the banks are strictly advised to look after (monitor) the activity and report data to State Bank of Pakistan within deadline given formal letter to Chief Executives of the Banks.
Latest Job Opened: Management Trainee Officer for HMBL Bank 2018
General Public note that after the lapse of deadline (1st March 18) the old note of GBP 10 will not be accepted at the banks, shops and restaurants. The General Pubic if retain / save GBP 10 Note in the home for personal use are requested to dispose in the Main Chest.
The bank of England was launched new GBP 10 Note in polymer currency and put into circulation in 14th September 2017 with new feature (Jane Austen). As per the report issued by the Bank of England 2.2 billion worth currency notes are in circulation and there is a chance of misleading, misprinting, frauds, tempering there in (old currency note) and which may give a massive loss to the Bank of England (economy), that’s why the Bank of England decided to launch new GBP 10 Note in order to overcome the financial loss involved therein.
After the cut-off timeline, the note will be remained a paper not acceptable at any point.
Latest Job Opened: Fresh Tellers Required in Allied Bank Ltd 2018