SBP announces bank holidays for Eid-ul-Fitr 2023

SBP announces bank holidays for Eid-ul-Fitr 2023

KARACHI: State Bank of Pakistan (SBP) on Friday announced bank holidays for Eid-ul-Fitr from April 21 to 25, 2023 (Friday to Tuesday).

According to the SBP all banks and financial institutions in the country will remain closed from Friday, April 21, 2023, to Tuesday, April 25, 2023, to celebrate the festival of Eid-ul-Fitr. During this time, all banks will remain closed, and no banking transactions will take place.

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The SBP has directed all banks to ensure that the general public is informed of the bank holidays well in advance so that they can plan their financial transactions accordingly.

Eid-ul-Fitr is celebrated at the end of the holy month of Ramazan and marks the end of the fasting period. The festival is celebrated with great enthusiasm and joy throughout the country, with families and friends coming together to exchange gifts and feast on traditional delicacies.

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The SBP has also urged the general public to use digital banking services, such as online banking and mobile banking, to carry out their transactions during the holidays. The use of digital banking services has increased significantly in Pakistan over the past few years, with the government encouraging the public to adopt these services to promote financial inclusion and reduce the country’s reliance on cash transactions.

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The bank holidays for Eid-ul-Fitr are a customary practice in Pakistan, and the government announces them every year to allow people to celebrate the festival with their loved ones without any financial stress.