SBP releases statement on bank holiday

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, inclusive of Public Debt Offices, will remain closed for public dealing on January 2, which has been declared a bank holiday.

Therefore, all banks and development finance institutions (DFIs) shall remain closed for public dealing on Monday. However, all officers/staff of SBP, SBPBSC, banks/DFIs will attend the office as usual.

Meanwhile, the authorised branches of the National Bank of Pakistan (NBP) and field offices of the SBP will remain open for a longer duration on December 31 (Saturday) for the collection of government receipts, duties and taxes.

“In order to facilitate the collection of government receipts/duties/taxes, it has been decided that the field offices of SBP Banking Services Corporation (SBP-BSC) and authorised NBP branches will observe extended banking hours till 8:00pm and 10:00pm on December 30 (Friday) and December 31 (Saturday), respectively,” the central bank said last week.

The central bank advised National Institutional Facilitation Technologies (NIFT) to arrange a “special clearing” at 8pm on December 31 for the same clearing of payment instruments.

All banks have also been advised to keep their branches open on December 31 till such time that is necessary to facilitate the particular clearing for government transactions by the NIFT.