The State Bank of Pakistan has announced that all banks, financial institutions, and microfinance banks across the country will be closed to the public on Monday, March 3, 2025. This closure has been designated as a “Bank Holiday” to facilitate the annual Zakat deduction process.
While regular banking services for customers will be unavailable, employees of these institutions will still be required to report to work as per their normal schedule. The decision aligns with directives from the Ministry of Poverty Alleviation and Social Safety.
For the current Zakat year (1445-46 A.H.), the Nisab (minimum balance required for Zakat deduction) has been set at Rs. 179,689. Individuals holding a credit balance equal to or above this amount in their Savings, Profit and Loss Sharing (PLS), or similar accounts will have Zakat automatically deducted on the first day of Ramzan-ul-Mubarak 1446 A.H..
However, no deductions will be made for accounts with balances below this threshold. The initiative aims to ensure the smooth collection of Zakat, which is used to support underprivileged communities across Pakistan.
The State Bank has advised the public to plan their banking transactions accordingly, as regular services will resume on Tuesday, March 4, 2025.
