KARACHI – Banks in Pakistan will remain closed for all public dealings on first day of Ramzan 2024, State Bank announced.A notification issued by central bank said bank holiday will be observed on the first day of Ramadan and public dealings will remain closed for the deduction of Zakat.
“State Bank of Pakistan will remain closed for public dealing on 1st Ramadan-ul-Mubarak, 1445 A.H., which shall be observed as ‘Bank Holiday’ for purpose of deduction of Zakat,” the central bank said.
All bank branches, development financial institutions (DFIs), and microfinance banks (MFBs) will be closed to the public on first day of ninth Islamic month.
During bank holidays, all bank, DFI, and MFB employees will work and operate as per normal working hours.
Ministry of Religious Affairs further announced Nisab for Zakat deduction from bank accounts during Ramzan 2024. The Nisab for Ramadan 2024 is set at Rs135,179, and Zakat will be deducted from accounts with deposits exceeding this amount.
The Holy Month Ramadan 2024 is expected to start on March 12 in Pakistan this year.
