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Banks to Remain Closed for Public Dealing for 5 Days on Eid

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Legal Editorial Desk
Banks to Remain Closed for Public Dealing for 5 Days on Eid
Banks will remain closed for five days on Eid al-Adha as the Eid Holidays announced by the government have coincided with Sunday and the first working day of July (Monday), which is also observed as a Bank Holiday. In a circular issued on Wednesday, the State Bank of Pakistan announced that it will remain closed on the 29th & 30th of June 2023 (Thursday & Friday) being public holidays on the occasion of Eid-ul-Adha. The government has already announced that the prime minister approved holidays on June 29 and 30 (Thursday and Friday) for the offices observing five working days in a week, and from June 29 to July 1 (Thursday, Friday, and Saturday) for offices with six working days. Although not announced by the central bank yet, the first working day of July is always observed as Bank Holiday. All banks/ DFIs/ MFBs remain closed for public dealings on the aforesaid date. However, all employees of the banks/ DFIs/ MFBs attend the office as usual.
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Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.

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