SBP Deputy Governor unveils commemorative stamp – business & finance


KARACHI: The Deputy Governor of the State Bank of Pakistan (SBP), Sima Kamil, unveiled a commemorative stamp from the Museum of the State Bank of Pakistan (SBP) to mark the 10th anniversary of its establishment.

The senior management of the bank, officials of the Pakistani post office and some famous personalities and patrons of the arts and museums were also present on this occasion.

The design of the stamp is based on the SBP Museum building, showcasing the country’s rich cultural heritage and a manifestation of art in architecture.

The building was originally constructed by the Imperial Bank of India in 1920 for its branch in Karachi.

In 1950 the building was handed over to the SBP which remained in use for various purposes until it was converted into a SBP museum in the 2000s.

This commemorative stamp is the third of its kind issued in honor of the SBP. Previously, stamps were issued to mark the 25th and 70th anniversaries of the SBP.

The history of the SBP Museum dates back to the 1960s when an Archives and Numismatic Museum was originally established on the fifth floor of the SBP headquarters.

During the 2000s, under the tenure of the former governor, Dr Ishrat Husain, it was decided to expand the museum to a larger level and house the current heritage building.

A dedicated team of professionals have worked tirelessly to collect ancient coins and other artifacts and have designed means for their preservation and display in accordance with international best practice.

Finally, on July 1, 2011, the building was officially inaugurated as the SBP museum and art gallery.

The museum, while maintaining high standards, has also obtained membership in ICOM (International Council of Museums).

Addressing the audience, Deputy Governor Kamil paid rich tributes to the hard work, commitment and dedication of the current and past staff of the museum, archives and art gallery who have worked more than late for its creation and operations.

She especially thanked Dr Ishrat Hussain for her vision and Dr Asma Ibraheem, the director of the museum, for leading the realization of this vision and continuously adding value through the expansion of collections and exhibits. The tradition of establishing money museums is associated with the majority of central banks around the world with the aim of keeping the public abreast of the evolutionary process of money and finance. Pakistan is one of those geographical places in the world where money, from its most primitive forms, has evolved into its most developed form. The SBP Museum also has stamps from the Indus Valley Civilization which were used as currency at that time.

Last year, the SBP established a Paper Preservation Laboratory under the Archives and Records Management Division, inaugurated by SBP Governor Dr Reza Baqir, which is quite unique in the country. The objects of the Archives / Archives / Museum of the SBP are exceptional in terms of history and the work aims at their conservation using the latest technologies. The laboratory is the custodian of records of permanent value from SBP which have been determined to have continuing historical value or legal / fiscal significance.

Regarding the issuance of the commemorative stamp, Kamil appreciated and thanked Pakistan Post for honoring the SBP Museum on the occasion of its 10th anniversary and for the hard work in issuing this stamp. Recognizing the importance of the postal services, she said that the postal services have been instrumental in connecting different nation states and citizens with the rest of the world through correspondence over the centuries. She added that in addition to facilitating trade, postal services have always brought people together. Although traditional correspondence has declined in today’s world, it remains an important medium of communication in remote areas of a developing country like Pakistan.

Deputy Governor Sima Kamil particularly appreciated Adil Salahuddin for the design of the commemorative stamp. She thanked him for donating his stamp collection and material that explains the process of designing stamps and banknotes to the SBP Museum. She stressed the need to establish such museums in other parts of the country as well and said that SBP will work in this direction and welcome the support of government entities and the private sector in this regard. The commemorative stamp recalls the important contribution of SBP to heritage preservation and to the cause of education and importance of SBP and will be available in all post offices nationwide from July 3.

Copyright Business Recorder, 2021


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