Banks in Pakistan to remain closed on first Ramadan

Banks in Pakistan will remain closed on the first Ramadan.

The commercial banks in Pakistan will remain closed on the first of Ramadan as the State Bank of Pakistan announced a bank holiday for the deduction of Zakat on Friday.

“The State Bank of Pakistan will remain closed for public dealing on 1st Ramadan-ul-Mubarak, 1445 A.H., which shall be observed as ‘Bank Holiday’ for deduction of Zakat,” the central bank said in a statement.

“All banks, development finance institutions (DFIs), and microfinance banks (MFBs) will remain closed for public dealing on the first Ramadan in Pakistan.”

“However, all employees of the banks / DFIs / MFBs will attend the office on Bank Holiday treating it as a normal working day (except for public dealing),” the SBP stated.

The first of Ramadan is expected to fall on March 12, this year, subject to the appearance of the moon.