KARACHI: The State Bank of Pakistan will remain closed on May 28, 2025 (Wednesday) being public holiday on the occasion of Youm-e-Takbeer.

The holiday commemorates Pakistan’s nuclear tests conducted in Chagai on the same date in 1998.

In a statement issued, the central bank said the closure follows the federal government’s declaration of a public holiday. The Establishment Division also released a notification formalising the decision.

Separately, the Sindh government had already announced a provincial holiday on May 28 to mark the occasion.

Earlier, State Bank of Pakistan (SBP) had issued the guidelines for the Regulatory Sandbox (RSB) under the Payment Systems and Electronic Fund Transfers (PS&EFT) Act, 2007.

The objective of these guidelines is to facilitate new and existing entities, including startups, to test their financial solutions under a controlled regulatory environment.

The State Bank of Pakistan (SBP) is setting up a Regulatory Sandbox that will work in groups based on specific innovation themes.

SBP will soon start accepting applications for the first group, and the theme for this group will be announced by the end of June after ongoing discussions with the market are completed.