KARACHI: The State Bank of Pakistan (SBP) has announced that all banks across the country, including its own offices, will remain closed for public on Tuesday, July 1, due to the annual financial year-end bank holiday.
According to a circular issued on Friday, the central bank clarified that while public dealings to remain suspended, bank staff will stay on duty to carry out important internal tasks related to year-end account settlements and financial reporting.
“This closure is part of the routine procedure to ensure the smooth closing of books and proper financial reconciliation,” the SBP stated.
The central bank further added that normal banking operations will continue on Monday, June 30, and will resume again after the holiday, following the regular weekend break on Saturday and Sunday.
The July 1 bank holiday is a standard practice every year, marking the end of the fiscal calendar and allowing institutions to tie up loose ends before entering the new financial year.
