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.

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.