Bank Holiday on March 24 for Zakat deduction.

KARACHI -- The State Bank of Pakistan on Tuesday declared March 24 (Friday) as a bank holiday for the deduction of Zakat and all the banks and financial institutions would be closed for public dealing on the day.

According to a circular issued by the Banking Policy and Regulations department of the central bank, the State Bank of Pakistan would remain closed for public dealing on March 24 for the purpose of deduction of Zakat, since 1st of Ramazan-ul-Mubarak, 1444 A.H. is likely to fall on Thursday, March 23, which was already declared as a public holiday.

Accordingly, all banks, Development Finance Institutions (DFIs) and Micro Finance Banks (MFBs) shall remain closed for public dealing on...