Web Desk: The State Bank of Pakistan (SBP) has announced holiday for banks and other financial institutions across the country on July 1 for the annual holiday, banks will remain closed to the public.
According to the central bank, all commercial banks, development finance institutions and microfinance banks will suspend public-facing banking services for the day.
In a statement, the SBP said customers will not be able to carry out over-the-counter banking transactions at branches during the holiday.
However, bank employees will report to work as usual, as the closure applies only to public dealings and not to internal administrative operations.
Moreover, the annual bank holiday is observed to facilitate the opening of new financial accounts and complete year-start administrative procedures within the banking sector.
The central bank said the holiday will also apply to development finance institutions and microfinance banks operating across Pakistan.
As a result, routine public banking services at these institutions will remain unavailable throughout the day.
Customers are expected to resume branch-based banking services when financial institutions reopen following the holiday, while digital banking channels and automated services are expected to remain available, subject to individual banks’ operating policies.
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