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SBP announces “Bank Holiday” on first Ramadan 2025

Summary by MM News TV

The State Bank of Pakistan (SBP) will remain closed for public dealing on the first working day of Ramadan 1446 AH, which will be observed as a “Bank Holiday” for the purpose of Zakat deduction. Therefore, all banks/DFIs/MFBs will remain closed for public dealing on the first working day of Ramadan 1446 AH. The Central Bank will issue a notification in this regard in a day or two. However, all employees of banks/DFIs/MFBs will attend to their of…

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Startup Pakistan - Startups, Technology and Business News From Pakistan

How Much Amount in Bank is Subject to Zakat Deduction?

The Federal Ministry of Poverty Alleviation has set the minimum amount for Zakat deduction at Rs79,689 for 2025. This means that if a Muslim account holder has savings equal to or above this amount, Zakat will be deducted automatically. The deduction applies to savings accounts, profit and loss accounts, and other similar types of deposits. However, current accounts are exempt, meaning Zakat will not be deducted from them. As part of the financi…

13 hours ago

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dailythedestination.com

Banks in Pakistan to remain closed on first working day of Ramadan

ISLAMABAD: The State Bank of Pakistan (SBP) has announced that all banks, development finance institutions (DFIs), and microfinance banks (MFBs) will remain closed for public dealings on the first working day of Ramadan 1446 AH for the purpose of Zakat deduction. The central bank is expected to issue an official notification in this regard within … The post Banks in Pakistan to remain closed on first working day of Ramadan appeared first on .

15 hours ago

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Daily Pakistan Observer -

Banks to stay closed in Pakistan on first day of Ramadan 2025 - Pakistan Observer

ISLAMABAD – All commercial banks will remain closed in Pakistan on first day of Ramadan 2025, State Bank of Pakistan (SBP) said on Wednesday. In an announcmeent, the central bank declared “Bank Holiday” on the first working day of Ramadan 1446 AH, in order to facilitate the deduction of Zakat. During this day, all banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs) will remain closed for public dealings, it said. State …

1 day ago

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