The State Bank of Pakistan (SBP) has announced a bank holiday on January 1, 2025. On this day, all banks, development finance institutions (DFIs), and microfinance banks (MFBs) will be closed for public dealings.
However, the SBP has clarified that staff members of these financial institutions are expected to report to work as usual on December 31, 2024, New Year’s Eve.
This announcement follows the yearly holiday schedule, providing financial institutions with the opportunity to observe the New Year holiday while ensuring they remain prepared for their regular operations.
The bank holiday aims to give institutions the necessary time to close their books and prepare for the upcoming year. Customers are advised to plan their banking needs accordingly, as branches will not be open for services on January 1.
The SBP’s decision highlights the importance of maintaining operational readiness within the financial sector while allowing a structured break for both institutions and their employees.
