Karachi, August 8, 2024 – The State Bank of Pakistan (SBP) has officially announced a bank holiday on Wednesday, August 14, 2024, in observance of Pakistan’s Independence Day.
This decision was communicated on Thursday through a circular addressed to the Chief Executive Officers (CEOs) and presidents of all banks, Development Financial Institutions (DFIs), and Microfinance Banks (MFBs) across the country.
According to the circular, the SBP and all banks under its jurisdiction will remain closed on August 14, 2024. The holiday has been declared by the Government of Pakistan to commemorate the country’s 77th Independence Day. The SBP’s circular emphasized the importance of this national holiday, allowing bank employees and customers to celebrate the occasion.
While announcing the holiday, the SBP has advised banks to ensure that their Automated Teller Machines (ATMs) are operational throughout the day to provide uninterrupted services to customers. The central bank has emphasized the need for a seamless banking experience, even during the holiday, and has urged financial institutions to take all necessary measures to maintain ATM functionality. This includes ensuring sufficient cash availability, minimizing technical issues, and providing prompt customer support in case of any disruptions.
In addition to the operational directives for ATMs, the SBP has also issued a public advisory, urging individuals and businesses to plan their financial activities accordingly. With banks closed for the day, customers are encouraged to complete their transactions in advance to avoid any inconvenience. The central bank’s advisory highlights the importance of fiscal planning, particularly for businesses that may require banking services on that day.
The SBP’s announcement serves as a reminder of the significance of Independence Day in Pakistan, a day marked by national pride and celebrations. The holiday provides an opportunity for citizens to reflect on the nation’s journey since gaining independence in 1947 and to honor the sacrifices made by the country’s founders.
As the nation prepares to celebrate this historic day, the SBP’s proactive measures ensure that banking services remain accessible to the public, while also allowing bank employees to participate in the festivities. The central bank’s commitment to maintaining service continuity underscores its role in facilitating the nation’s economic and financial activities, even on significant public holidays.
