Selected bank branches to open on May 27: SBP

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KARACHI: Banks and microfinance banks may open select branches on Wednesday, May 27, the State Bank of Pakistan (SBP) has said. 

“In  order  to  ensure  the  availability  of  limited  banking  services  to  public  at  large  during  the  extended holidays on the occasion of Eid‐ul‐Fitr, it has been decided that banks / MFBs may open their selected branches on Wednesday, May 27, 2020 at their own discretion in various business centers / commercial hubs etc. across Pakistan,” the SBP statement on Wednesday said. 

However, the SBP said that the RTGS  System  and  clearing  through  NIFT  will  not  be  available on  May 27. Instead, NIFT will collect financial instruments from branches on Thursday, May 28, for clearing purposes. “For  this  purpose,  banks  / MFBs  should ensure  the  deployment  of minimal  number  of  staff necessary to carry out smooth working at their selected branches on the above date,” the SBP said.

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