The State Bank of Pakistan (SBP), commercial banks, and other financial institutions will remain closed for public dealing on Monday, March 3, 2025, in observance of a Bank Holiday for Zakat deduction.
For Zakat Year 1445-46 A.H, the Administrator General Zakat has set the Nisab of Zakat at Rs179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only).Â
The SBP, citing instructions from the Ministry of Poverty Alleviation and Social Safety, issued a circular on Friday stating that all banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs) will remain closed to the public on March 3, 2025.
However, bank employees will attend office on the Bank Holiday, treating it as a regular working day, except for public dealings, as per a Banking Policy and Regulations Department (BPRD) circular.
The deduction of Zakat from Savings Accounts, Profit and Loss Sharing (PLS) Accounts, and similar accounts with a credit balance of Rs179,689 or more will take place on the first day of Ramzan-ul-Mubarak, 1446 A.H, which has been pre-notified as the Deduction Date. No Zakat deduction will be made from accounts holding less than the specified limit.
