The State Bank of Pakistan (SBP) has announced a bank holiday on Monday, July 1st. All private and public banks shall remain closed for public dealing on the said date.
“Banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs) would remain closed for public dealing on Monday,” a statement from the central bank said on Friday.
It, however, mentioned that all employees of banks, DFIs, and MFBs will attend the office as usual.
Since first July is the beginning of the new financial year in Pakistan, all the banks and related organizations conclude annual closing of accounts of the previous fiscal year. This is why the banks remain open but do not deal with the public.