Karachi, January 31, 2024 – In a recent announcement, the State Bank of Pakistan (SBP) declared that all banks will remain closed on February 5, 2024, in observance of Kashmir Day.
This decision, aimed at expressing solidarity with the Kashmiris in the Indian-occupied region, was communicated to the presidents and chief executives of all banks, development financial institutions (DFIs), and microfinance banks (MFBs).
The SBP, as the central banking institution, emphasized that February 5, 2024, which falls on a Monday, will be observed as a public holiday throughout the country. This aligns with the official declaration made by the Government of Pakistan, marking the day as “Kashmir Day.”
Kashmir Day is an annual event in Pakistan, dedicated to expressing support for the rights and aspirations of the Kashmiri people. The date holds significance as it symbolizes solidarity with those residing in the troubled region of Indian-administered Kashmir. The closure of banks on this day serves as a symbolic gesture to draw attention to the longstanding Kashmir conflict and the struggles faced by the Kashmiri population.
The public holiday on February 5, 2024, is part of a broader tradition in Pakistan where citizens and institutions join hands to demonstrate unity with their Kashmiri brethren. It provides an opportunity for people across the nation to reflect on the ongoing issues in the region and express empathy towards those affected by the conflict.
The Kashmir conflict has been a longstanding and contentious issue between India and Pakistan, with both countries claiming the region in its entirety. The situation has resulted in decades of tension, political turmoil, and human rights concerns. By observing Kashmir Day, Pakistan aims to bring global attention to the plight of the Kashmiri people and advocate for a peaceful resolution to the conflict.
The State Bank of Pakistan’s decision to close banks on February 5, 2024, underscores the government’s commitment to highlighting the Kashmir issue and standing by the Kashmiri population in their pursuit of self-determination. The banking sector, a crucial component of the nation’s economic infrastructure, joins other institutions and citizens in this collective effort to raise awareness about the challenges faced by Kashmiris.
While the closure of banks on Kashmir Day may temporarily inconvenience some individuals, the broader objective is to emphasize the importance of resolving the Kashmir conflict through diplomatic means and fostering peace in the region. This symbolic gesture reflects the nation’s commitment to supporting the rights and aspirations of the Kashmiri people, acknowledging their struggles, and advocating for a just and peaceful resolution to the longstanding dispute.
