SBP announces bank holiday on 27 April

KARACHI: The State Bank of Pakistan will remain closed for public dealing on Monday, April 27, 2020, which shall be observed as “Bank Holiday” for the purpose of deduction of Zakat.

All banks / DFIs / MFBs shall, therefore, remain closed for public dealing on Monday, April 27, 2020. However, all employees of the banks / DFIs / MFBs will attend to their official assignments (in-office or work-from-home, as designated under the current COVID-19 situation) on Bank Holiday treating it as a normal working day (except for public dealing).

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The Nisab for Zakat deduction on bank accounts has been fixed at Rs. 46,329 and Zakat will be deducted from saving bank accounts, profit and loss sharing accounts and other similar accounts having a credit balance of Rs, 46,329.

However, Current Accounts and Foreign accounts will be exempted from deduction.

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