Tuesday, May 28, 2024

Banks to remain closed on first Ramadan in Pakistan

The State Bank of Pakistan has announced a bank holiday for the deduction of Zakat on the first day of Ramadan-ul-Mubarak, 1445 A.H.

In a statement issued on Friday, the central bank declared that all commercial banks, development finance institutions (DFIs), and microfinance banks (MFBs) in Pakistan will remain closed for public dealing on the first day of Ramadan.

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While banks will be closed for public dealings, all employees of these institutions are required to attend the office as usual, treating the bank holiday as a normal working day.

This decision aims to facilitate the deduction of Zakat from bank accounts in accordance with Islamic principles during the holy month of Ramadan.

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Zayn
Zayn
Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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