State Bank of Pakistan SBP Announces Bank Holiday on 23 March

State Bank of Pakistan SBP Announces Bank Holiday on 23 March 2023 on account of ” Pakistan Day”. In a statement, SBP announced that all commercial banks as well as SBP will remain closed for public dealing on 23 March Thursday on the occasion of Pakistan Day.

23 March 2023 is declared a public holiday by the Government of Pakistan. All public and private offices, educational institutions as well as banks will remain closed to celebrate this occasion.

The day is marked to commemorate the historic Lahore Resolution passed on March 23, 1940, which eventually led to the creation of Pakistan within seven years of its adaptation on August 14, 1947.

People around the country decorate their homes, bazaars, and markets with Pakistani flags to express their love for the country. Younger decorate their motorcycles, vehicles, and motorbikes with flags and show their love for the motherland. Special TV transmissions are arranged to aware of the people with history of this Day.

Furthermore, it is worth noting that the State Bank of Pakistan also announced a holiday on 24 March 2023 Friday for Zakat deduction at the start of Ramadan.

The State Bank of Pakistan (SBP) stated that all banks / DFIs / MFB shall, therefore, observe a bank holiday on 24 March 2023 and remain closed for public dealings. However, Bank holidays will not be applicable for bank employees who will attend the office on a normal working day.

So in nutshell, all commercial banks will close for public dealing on 23 March and 24 March consecutively. People are advised to use their banking services before the public holidays.

In addition, it is worth noting that Federal Government announced new office timings for the Month of Ramadan. Punjab and Sindh Governments also revised their office and educational institutions’ timings during the holy month of Ramadan.

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