The State Bank of Pakistan will remain closed for public dealings on 1st Ramadan-ul-Mubarak 1439 A.H., which will be observed as ‘Bank Holiday’; for the purpose of deduction of Zakat.
All banks/Development Finance Institutions (DFIs)/Mircofinance Bank (MFBs) shall, therefore, remain closed for public dealing on 1st Ramadan-ul-Mubarak 1439 A.H. 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).
The decision is nothing new, since on every 1st of Ramadan, banks and financial institutions have observed a holiday in order to deduct Zakat.
A few days ago, the government also set the official rates for Zakat Nisab at Rs. 39,198 this year.
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SBP also sent out a circular to notify banks about the holiday. You can check their announcement out here.
