In an official statement released on Friday, the State Bank of Pakistan (SBP) confirmed the closure of banks nationwide for public dealing on 1st Ramadan, expected to fall on Tuesday (March 12).
The central bank, through a notification, declared 1st Ramadan-ul-Mubarak, 1445 A.H., as a designated ‘Bank Holiday’ for Zakat deduction.
This implies that all regular public services at banks, development financial institutions (DFIs), and microfinance banks (MFBs) will be temporarily halted on the specified date.
Despite the public closure, it is important to note that employees of these financial institutions, including banks, DFIs, and MFBs, are required to attend their offices on this bank holiday.
The day is to be treated as a normal working day for the staff, ensuring the continued operation of essential services within the financial sector.
The temporary suspension of public dealing aims to facilitate the smooth deduction of Zakat following religious and regulatory obligations.