Karachi, June 27, 2025 – The State Bank of Pakistan (SBP) has officially declared a bank holiday for Tuesday, July 1, 2025. This annual closure is part of the central bank’s traditional year-end financial closing operations.
The announcement was made through BPRD Circular No. 15 of 2025, issued by Shahid Rabbani, Additional Director of the SBP, and circulated to all presidents and chief executives of banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs).
According to the SBP circular, the bank holiday on July 1 will be observed by all banks, DFIs, and MFBs across the country. On this day, there will be no public dealing at any bank branch, allowing financial institutions to complete the necessary processes related to the closing of fiscal year accounts. However, while banking services for the public will remain suspended, employees of these institutions will be required to attend work as usual to finalize internal records and reconciliations.
This bank holiday is part of the SBP’s routine annual calendar, as July 1 marks the start of the new fiscal year in Pakistan. The fiscal year for most government and regulatory entities, including the SBP, runs from July 1 to June 30. Although commercial banks follow a different financial year — from January 1 to December 31 — they also participate in the SBP-directed bank holiday on July 1 for year-end adjustments.
The SBP emphasized that this closure is crucial for maintaining accounting accuracy and regulatory compliance. Customers are advised to complete any urgent banking transactions before the bank holiday to avoid inconvenience.
Banking customers across Pakistan should note that online banking services, ATMs, and mobile apps may still be operational, but any transactions requiring in-person assistance will need to be completed before or after July 1.
In line with its mandate to ensure financial stability, the SBP annually enforces this bank holiday to streamline end-of-year processes. The SBP encourages all stakeholders to treat the July 1 bank holiday as a vital opportunity for administrative and financial finalization within the banking sector.