SBP announces Eid holidays

KARACHI: The State Bank of Pakistan (SBP) on Tuesday announced public holidays in connection with Eid-ul-Azha that falls on August 12 (Monday), ARY News reported.

According to a press release issued by SBP, all banks including the SBP will remain closed from 12th to 15th August 2019 (Monday to Thursday).

It may, however, be noted that August 17, 2019 (Saturday) will be observed as working day from 9:00 am to 5:30 pm, added press release.

On the other hand, the SBP injected Rs 245.5 billion into the money market for three days as reverse repo purchase through its open market operation.

The first day of Eidul Azha will fall on Aug 12, Monday, as the Zilhajj moon was sighted on Friday.

Eid Al Adha, falls on the 10th day of Zil-Hajj. Eid Al Adha this year will fall on Monday, August 12, if the moon sighted on Friday, 2nd August.

Eid Al Adha, also known as the Feast of Sacrifice, is one of two Eid festivals celebrated by Muslims to commemorate Prophet Ibrahim’s willingness to sacrifice his son to the God. Traditionally marked by the slaughter of animals, whose meat is shared with family members and the poor.