All banks in Pakistan will be closed on Friday in observance of the Zakat deduction, according to a Tuesday announcement from the State Bank of Pakistan (SBP).
“The State Bank of Pakistan will remain closed for public dealing on Friday, March 24, 2023, which shall be observed as a “Bank Holiday” for the purpose of deducting zakat,” states a central bank statement.
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Because Pakistan Day is on March 23 (Thursday), a public holiday, and the SBP is closed on Saturday and Sunday, the central bank will be closed for four days.
Normally, the first day of Ramadan is a bank holiday, but the central bank noted that “since the first of Ramadan-ul-Mubarak, 1444 AH is likely to fall on Thursday, March 23, (already being a public holiday)