The State Bank of Pakistan has officially announced a bank holiday on the first day of Ramazan 1447 Hijri in connection with the annual Zakat deduction process.
According to the SBP notification, public banking transactions will remain suspended across the country on 1st Ramazan. The closure will apply to all public and private banks, as well as development finance institutions and microfinance banks.
Also Read: Ramazan moon sighted in Saudi Arabia and UAE, holy month begins Feb 18
Which Institutions Will Remain Closed?
As per the central bank’s directive, the following institutions will be closed for public dealings on the first of Ramazan:
- Public and private commercial banks
- Development Finance Institutions (DFIs)
- Microfinance banks
The SBP clarified that bank staff will report to offices as per routine, while counters dealing with the general public will remain closed due to the official bank holiday.
Moon Sighting for Ramazan 1447 Hijri
Meanwhile, the central meeting of the Ruet-e-Hilal Committee will be held in Peshawar, with zonal meetings across other parts of the country. After reviewing moon sighting testimonies, an official announcement regarding the start of Ramazan will be made.
