SBP Announces Bank Holidays and Ramzan Timings

Pakistani banks will remain closed for 3 days starting from May 27th. The banks shall be closed for public dealings on Monday May 29, 2017, for Zakat deduction as well.

In addition to this, the State Bank also announced Ramzan timings for the banks.

The State Bank of Pakistan will also remain closed for public dealing on May 29, 2017. It will be observed as “Bank Holiday” for the purpose of deduction of Zakat.

As per existing laws, banks are bound to deduct Zakat on the first day of Ramzan. This year the first day of Ramzan is expected to fall on either Saturday 27 or Sunday 28, normally considered as weekly off days for banks. Instead of opening branches on the off days, the State Bank has also announced a bank holiday on Monday 29th.

All banks / Development Finance Institutions (DFIs) /Microfinance Banks (MFBs) shall, therefore, remain closed for public dealing on May 29, 2017. However, all employees of the banks / DFIs / MFBs will attend the office on Bank Holiday, treating it as normal working day (except for public dealings).

During the ensuing holy month of Ramzan-ul-Mubarak, State Bank of Pakistan and all banks, development finance institutions and microfinance banks will stay open from from 8:00 am to 2:15 pm on weekdays without any break. On Fridays, the office hours will be from 8:00 am to 1:00 pm without any break.

However, business (banking) hours for public dealing on Monday to Thursday will be from 8:00 am to 1:45 pm without any break whereas on Friday business (banking) hours for public dealing will be from 8:00 am to 12:30 pm without any break.

These timings will only be valid for the holy month of Ramzan-ul-Mubarak.

  • We still need one day off to run a script / command on the computer which will calculate and deduct the money from all accounts!
    I personally don’t see any value of technology and digitization if it fails to improve the customer experience and deliver a good service quality & add efficiency in working.

    • In the west banks are closing branches and moving their entire operations online. There are also online-only banks that have no branches at all. In Pakistan banks are expanding their branch networks and working very hard to prevent competitors from offering services via digital platforms. The SBP helps them in this regard by creating policies that put up huge barriers to entry for startups. It is a very profitable nexus between government bureaucrats and bankers.

      In the end though they are doomed. Innovations in fintech will eventually put them out of business because, as a consumer of financial services, if something saves you money and is more convenient for you you will adopt it.

    • Aj jumma hai sb bhai Abdul Wahab k liay dua kren, kia dua kren wh ap loag samajh gay hngy

  • Banks timings should be 10-4 PM because public comes to bank after 10 and banks have to keep their counters open. It effects employees health as they can neither sleep peacefully after sehri nor at noon.

  • Pathetic and rubbish timings, learn from Bangladesh where timings are from 930 to 330.
    No body visit branch from 8 to 11 and all of sudden heavy customer traffic in banks which ended up late settings for staff till 5 to 6

  • If they care so much about religion maybe they should stop dealing in interest? Otherwise this is just their hypocrisy on show.

  • timing should be 8:00 am to 4:00 pm, A.C ma kaam krtae hoae inn ko moat parhti ha, bahir mazdoor roza rakh k dhoop ma kaam kr rhae hotae hain

  • ais zahmat ki kia zarroat ha bahot ahsan kia ha bankers pay na too wao nimaz zohar par saky gy agar par bhi ly wao bhi kiza sherm to aty nahi ha pata nahi kon yazeed ki nassal bayhty ha ais state bank head office ma saal ma aik maheena ata ha wao bhi kahrab kry gy ho na sood khor ki aoulad Allah pak ainhian tabha o barbad kr dy ain kambahkto ki waja say rozy kahrab hoon gy shame on you
    doob maro baygherto sharm to nahi aty tum ko

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