Muslims around the world eagerly anticipate the festival of Eid-ul-Fitr, as the holy month of Ramadan comes to a close, which marks the end of fasting and is celebrated with joy and festivities. In Pakistan, one of the long-standing traditions associated with Eid is the exchange of new currency notes, commonly known as “Eidi,” which is gifted to children, relatives, and friends as a symbol of good fortune and blessings. However, this year, there will be a change in the usual practice, as the State Bank of Pakistan (SBP) has announced that it will not issue new notes for Eid-ul-Fitr through SMS service or banks, citing the ongoing impact of the COVID-19 pandemic.
The SBP, as the central bank of Pakistan, regulates the country’s monetary policy and is responsible for the issuance and management of currency notes. In a recent statement, the SBP informed the public that the policy regarding the issuance of new notes for Eid has been revised in light of the prevailing situation caused by the COVID-19 pandemic. Last year, the country witnessed a surge in COVID-19 cases during the festive season of Eid-ul-Fitr, and the SBP had temporarily suspended the issuance of new notes to curb the spread of the virus through physical contact.
This year, the SBP has decided not to issue new notes for Eid-ul-Fitr through its SMS service or banks, as part of its continued efforts to contain the spread of COVID-19 and ensure the safety and well-being of the general public. The decision has been met with mixed reactions from the public, with some expressing disappointment and concern, while others applauding the move as a necessary precautionary measure.
The tradition of gifting new currency notes on Eid has a cultural significance in Pakistan, and many people eagerly look forward to obtaining crisp, freshly minted notes from banks to give as Eidi to their loved ones, especially children. The practice is believed to bring good luck and prosperity, and is seen as a gesture of generosity and kindness during the festive season. However, the SBP’s decision to not issue new notes this year has raised questions and concerns among the public about the impact on the customary celebrations of Eid, and how it may affect the sentiments of individuals who have been accustomed to this practice for years.
In its statement, the SBP has encouraged the public to continue using digital payment methods, such as mobile wallets, online banking, and other electronic means, for conducting financial transactions during Eid-ul-Fitr, in order to minimize physical contact and reduce the risk of COVID-19 transmission. The SBP has also emphasized the importance of adhering to the government’s guidelines and standard operating procedures (SOPs) for social distancing, wearing masks, and maintaining proper hygiene practices while celebrating Eid, to ensure the safety and well-being of everyone.
The decision of the SBP to not issue new notes for Eid-ul-Fitr this year is a reflection of the challenging times we are living in, as the world continues to grapple with the unprecedented impact of the COVID-19 pandemic. The safety and health of the public must take precedence over customary practices, and it is crucial for everyone to follow the guidelines and SOPs issued by the government and health authorities to prevent the further spread of the virus. While the absence of new notes for Eidi may disappoint some, it is important to remember that this decision is driven by the need to prioritize public health and safety, and to mitigate the risk of COVID-19 transmission during the festive season.
In addition to the health concerns, the SBP’s decision also highlights the growing importance of digital payment methods in the current era. With the advancement of technology and the increasing digitization of financial services, digital payment methods have gained popularity as convenient and efficient alternatives to traditional cash transactions. The SBP recognizes the significance of digital payments in promoting financial inclusion, reducing the reliance on physical cash, and facilitating safe and secure transactions, especially in times of crisis such as the ongoing pandemic.
While the decision of the SBP may pose challenges for those who are accustomed to the tradition of exchanging new currency notes on Eid, it also presents an opportunity to embrace digital payment methods and explore innovative ways to celebrate the festival while adhering to the guidelines for preventing the spread of COVID-19. Families and individuals can consider using digital wallets or online banking to transfer Eidi, or opt for creative alternatives such as e-gift cards, virtual gifts, or other forms of non-cash gifts. This can not only promote digital financial literacy but also contribute to the overall safety and well-being of everyone involved in the celebrations.
It is important to understand that the decision of the SBP to not issue new notes for Eid-ul-Fitr this year is a temporary measure aimed at mitigating the risk of COVID-19 transmission and ensuring the safety of the public. As the situation evolves and the pandemic is brought under control, the issuance of new notes for Eid may resume in the future. In the meantime, it is crucial for everyone to cooperate and comply with the guidelines and SOPs issued by the government and health authorities, and to prioritize the health and safety of ourselves and our communities.
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The SBP’s announcement of not issuing new notes for Eid-ul-Fitr this year due to the ongoing impact of the COVID-19 pandemic may be disappointing for some, but it is a necessary precautionary measure to ensure public health and safety. Embracing digital payment methods and finding creative alternatives to exchange Eidi can help promote financial inclusion and prevent the spread of the virus.
It is important for everyone to follow the guidelines and SOPs issued by the government and health authorities, and prioritize the well-being of ourselves and our communities during these challenging times. Eid-ul-Fitr is a time for celebration and togetherness, and by taking responsible actions, we can make the festival meaningful and memorable while keeping ourselves and others safe.
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