The State Bank of Pakistan (SBP) has declared that on the first working day of Ramadan 1446 AH, all banks, development finance institutions (DFIs), and microfinance banks (MFBs) will be closed for public transactions to facilitate Zakat deduction.
An official notification from the central bank is expected within the next few days. However, bank staff will still be required to work normally, handling all internal duties except for any customer-facing transactions.
Read More: Banks to remain closed for three days
Ramadan is anticipated to begin in Pakistan on March 2, 2025, with the crescent moon expected to be sighted on the evening of March 1. According to the Space and Upper Atmosphere Research Commission (SUPARCO), the new moon should appear on February 28 at 5:45 PM Pakistan Standard Time.
This bank holiday on the first day of Ramadan has long been observed to ease the Zakat deduction process, as required by the country’s banking regulations.
