Bank holiday on Monday

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KARACHI: The State Bank of Pakistan (SBP) will remain closed for public dealing on Monday which would be observed as a “Bank holiday” for the purpose of deduction of Zakat, according to a circular issued here the other day. 

All banks, development finance institutions and microfinance banks would; therefore, remain closed for public dealing on Monday, it added. However, all employees of the banks will attend their official assignments (in-office or work-from-home, as designated under the current COVID-19 situation) on bank holiday, treating it as a normal working day (except for public dealing).

Banking hours for Ramazan: The SBP announced it will continue to observe the existing office hours during the month of Ramazan, which will also be followed by all banks, development finance institutions and microfinance banks.

Working hours for banks will be from 10:00am to 4:00pm with prayer break from 2:00pm to 2:15pm, from Monday to Thursday. However, on Fridays, office hours will be from 10:00am to 1:00pm without any break.

Business hours for public dealing will be from 10:00am to 1:30pm without any break, from Monday to Thursday, whereas on Fridays, business (banking) hours for public dealing will be from 10:00am to 1:00pm without any break.

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