The State Bank of Pakistan (SBP) has announced that all banks across the country will be closed for public dealings on Monday, March 3, 2025, to facilitate the annual Zakat deduction process. This decision follows directives issued by the Ministry of Poverty Alleviation & Social Safety on February 27, 2025.
According to the official notification, the closure will affect all commercial banks, development finance institutions (DFIs), and microfinance banks (MFBs). While banks will not be open to the public, employees are required to report to work as the day will be considered a regular working day, excluding public transactions.
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The Zakat deduction is carried out annually under the Zakat and Ushr Ordinance 1980, which mandates the deduction of 2.5% Zakat from applicable savings accounts and financial instruments. Customers are advised to plan ahead as banking services will resume as normal on March 4, 2025.
Meanwhile, the Central Ruet-e-Hilal Committee announced that the Ramadan moon was not sighted in Pakistan, meaning the first roza will be observed on Sunday. Cloudy and windy conditions in major cities, including Islamabad, Lahore, and Quetta, reduced the chances of sighting the moon, according to the Met Department.
