SBP announces banks timings during Ramazan

State Bank of Pakistan jacks up key rate to 21 percent

KARACHI: The State Bank of Pakistan (SBP) has announced bank timings for banks during the holy month of Ramazan.
According to an SBP press release, banks will remain open to the public from 10AM-2PM on Monday to Thursday and from 9AM-1PM on Friday.
Office hours observed by banks would be 10AM-4PM with a prayer break from 2PM-2:15PM and on Friday from 9AM-2PM.
The SBP has also announced that banks would remain closed for public dealing on the first of Ramazan.
Meanwhile, Zakat for Nisab deduction has been fixed at Rs44,415 by the SBP.
Zakat will be deducted from saving accounts, profit and loss sharing accounts and other similar accounts having a balance of Rs44,415 or above, on the first of Ramazan.
No Zakat would be deducted on amounts less than Rs44,415.


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