SBP Announces Bank Holiday on 24 March 2023 For Zakat Deduction

The State Bank of Pakistan (SBP) has announced a bank holiday on 24 March 2023 for the deduction of Zakat at the start of Ramadan 2023.

According to the notification, the State Bank of Pakistan will remain closed for public dealing on Friday, March 24, 2023, “which shall be observed as Bank Holiday for the for the purpose of deduction of Zakat.”

The State Bank of Pakistan (SBP) stated that all banks / DFIs / MFB shall, therefore, observe a bank holiday on 24 March 2023 and remain closed for public dealings.

However, the bank holiday is not applicable for employees of the banks / DFIs / MFBs, who will attend office as a normal working day.

Here is the copy of the notification:

It is pertinent to mention that State Bank of Pakistan (SBP) had already announced a bank holiday on 23 March 2023 on the occasion of Pakistan Day.

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