• The State Bank of Pakistan declares July 1, 2024, a bank holiday.
• All banks, DFIs, and MFBs will be closed for public dealings.
• The holiday marks the beginning of the fiscal year 2024–25

KARACHI – The State Bank of Pakistan (SBP) has declared July 1, 2024, as a bank holiday to mark the first day of the new fiscal year 2024–25. This announcement means that all banks, development finance institutions (DFIs), and microfinance banks (MFBs) will remain closed for public dealings on this day.

According to the SBP, while public dealings are suspended, all employees of banks, DFIs, and MFBs are required to attend their offices as usual. This holiday is part of the routine observances for the start of the new fiscal year, ensuring operational readiness for financial institutions.

A circular from the central bank confirming the holiday is expected to be issued today, providing official notification to all concerned parties.

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This temporary closure aims to facilitate administrative and operational adjustments necessary for the commencement of the new fiscal year across the banking sector.

Stay informed about further updates and announcements from the State Bank of Pakistan regarding banking operations and holidays by visiting their official channels and websites.