The State Bank of Pakistan (SBP) declared that on the first day of Ramadan, all public transactions at banks in Pakistan will be suspended.
According to the central bank’s announcement, the first day of Ramadan will be a bank holiday for zakat deductions.
On the first day of Ramadan, 1445 Hijri, SBP will be closed to the public and observe a bank holiday for the purpose of deducting zakat. On the first day of the ninth Islamic month, all bank branches, Development Finance Institutions (DFIs), and Micro Finance Banks (MFBs) would be closed to the public.
All Bank, DFI, and MFB staff will, however, continue to work and conduct business as usual on bank holidays.
Additionally, the timetable for deducting Zakat from bank accounts for Ramadan 2024 was released by the Ministry of Religious Affairs. Zakat will be taken from accounts that gather more than the permitted amount of Rs 135,179 during Ramadan 2024.
