Karachi, June 20, 2023: The State Bank of Pakistan (SBP) on Tuesday officially announced the bank holidays for Eid ul Azha 2023.
In a statement released on Tuesday, the SBP informed the public about the closure of banks on 29th and 30th June, 2023 (Thursday and Friday) in observance of Eid-ul-Adha.
READ MORE: SBP Directs Banks to Extend Sunday Operations for Convenient Tax Payment
Eid ul Azha, also known as the Festival of Sacrifice, is one of the most significant religious festivals celebrated by Muslims around the world. This occasion is marked by the sacrifice of animals, typically goats, sheep, or cows, and the distribution of meat among family, friends, and the less fortunate.
The announcement of bank holidays by the State Bank of Pakistan is in accordance with the religious and cultural significance of Eid ul Azha. These holidays provide an opportunity for people to spend time with their families, engage in religious rituals, and participate in community gatherings.
READ MORE: FBR Announces Tax Collection Schedule for Eid Holidays
During the bank holidays, all branches of commercial banks, including public and private banks, will remain closed. However, online banking services and ATMs will continue to function, allowing customers to perform essential transactions. It is advisable for individuals to plan their banking needs accordingly, ensuring they have sufficient cash or make necessary transactions before the holidays.
READ MORE: Tax Experts Explain Reintroduction of Tax on Bonus Shares through Finance Bill, 2023
The announcement of these holidays well in advance allows individuals, businesses, and financial institutions to plan their activities accordingly. It enables smooth coordination and ensures minimal disruption to banking operations during the festive period.
READ MORE: Higher Rate of Super Tax Extended to All Taxpayers
It is important to note that the SBP’s announcement regarding the bank holidays for Eid ul Azha applies to banks across Pakistan. However, individuals are advised to check with their respective banks or financial institutions for any specific instructions or modifications to regular banking services during this time.
