100 Rials - Mohammad Rezā Pahlavī

Bank Melli Iran had used Bradbury, Wilkinson for earlier series, but the postwar transition brought Harrison & Sons into the picture for this 1946 issue — a shift that reflected both wartime disruptions to engraving capacity and Britain's ongoing commercial involvement in Iranian financial infrastructure during the occupation period. The Anglo-Soviet invasion of 1941 had left Iran's economy under considerable external pressure, and the notes circulating in its aftermath carried that instability quietly in their paper.

Pick 44 is sometimes confused with adjacent issues in the same Harrison-printed series; the watermark is the primary differentiator when signatures or serial prefixes are ambiguous.