SBP Announces New Bank Timings With Five Working Days

The State Bank of Pakistan (SBP) has issued new bank timings, which will be followed by all banks / micro-finance banks (MFBs) with immediate effect as working hours return to normal after the Holy Month of Ramadan. The central bank has issued a notification detailing the new bank timings.

According to the notification, all banks / MFBs will remain open from Monday to Thursday from 9:00AM to 5:30PM (with prayer / lunch break from 1:30PM to 2:15PM, whereas on Friday, the office hours to be followed by banks are from 9:00AM to 6:00PM with a lunch and prayer break from 1:00PM to 2:30PM.

New Bank Timings

It is pertinent to mention that Banks / MFBs may prescribe business (banking) hours for public dealing as per their business requirements provided the business (banking) hours being observed by the field offices of SBP Banking Services Corporation (SBP-BSC) are complied with as a minimum benchmark for this purpose.

Further, in order to ensure the availability of basic banking facilities to business community and public at large, banks / MFBs may open their selected branches situated in major cities / business centers / commercial markets & hubs / ports etc. on Saturdays as per their business requirements.

The collection booths of banks located at Custom Houses / Ports shall remain open 24/7 as per existing practice. However, banks / MFBs shall submit a complete list of branches that will be opened on Saturdays to the Banking Policy & Regulations Department and also place the updated list of such branches on their websites.

For the information of customers, banks / MFBs shall prominently display in the concerned branch that this branch will remain open on Saturdays. Furthermore, the new bank timings will come into effect immediately as per instructions by the State Bank of Pakistan (SBP).

It bears mentioning that the Government has announced extended office timings with a six-day work week on Friday. However, the State Bank of Pakistan (SBP) has reverted back to the original five-day work week according to the new bank timings.

Read more: Govt Announces New Office Timings With Six Working Days.

Follow INCPAK on Facebook / Twitter / Instagram for updates.