ISLAMABAD: The State Bank of Pakistan (SBP) has announced that all banks, development finance institutions (DFIs), and microfinance banks (MFBs) will remain closed for public dealings on the first working day of Ramadan 1446 AH to facilitate Zakat deduction.
An official notification from the central bank is expected within the next few days. However, bank employees will be required to report for duty as usual and carry out their official responsibilities, excluding transactions involving the public.
Ramadan is expected to begin in Pakistan on March 2, 2025, with the crescent moon likely to be sighted on the evening of March 1. According to the Space and Upper Atmosphere Research Commission (SUPARCO), the new moon is anticipated to appear on February 28 at 5:45 PM Pakistan Standard Time.
The practice of observing a bank holiday on the first day of Ramadan has been in place for years to ensure the smooth process of Zakat deduction, which is mandated by the country’s banking regulations.
