Banks to remain closed in Pakistan on THIS date
- By Web Desk -
- Mar 01, 2025
KARACHI: The State Bank of Pakistan, commercial banks and other financial institutes to remain closed for public dealing on Monday, March 3, 2025, which shall be observed as “Bank Holiday” for the purpose of deduction of Zakat.
This year Administrator General Zakat has notified the “Nisab of Zakat” for the Zakat Year 1445-46 A.H at Rs. 179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only).
The central bank, while referring to the instructions of the Ministry of Poverty Alleviation and Social Safety, on Friday circulated that all banks, Development finance Institutes (DFIs) and Microfinance Banks (MFBs) shall remain closed for public dealing on Monday, March 3, 2025.
All employees of the banks, DFIs, MFBs, however, will attend the office on Bank Holiday treating it as a normal working day (except for public dealing), a circular letter issued by Banking Policy and Regulations Department (BPRD) reads.
The deduction of Zakat from Saving Bank Accounts, Profit and Loss Sharing (PLS) Accounts and other similar Accounts having credit balance of Rs179,689 will be made on the first day of Ramzan-ul-Mubarak, 1446 A.H. that has already been notified as the Deduction date.
No deduction of Zakat at source shall be made in case the amount standing to the credit of an account is less than the specified limit.