The commercial banks in Pakistan will remain closed on first Ramadan after the State Bank of Pakistan announced a bank holiday for the deduction of Zakat.

“The 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 the purpose of deduction of Zakat,” the central bank said in a statement on Friday.

All banks, development finance institutions (DFIs), and microfinance banks (MFBs) will remain closed for public dealing on the first Ramadan in Pakistan.

“However, all employees of the banks / DFIs / MFBs will attend the office on Bank Holiday treating it as a normal working day (except for public dealing),” the SBP stated.