The State Bank of Pakistan (SBP) has announced a bank holiday on 1st July. All public and private banks will remain closed for public dealing.
Banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs) would remain closed for public dealing on Monday -Statement from SBP
However, despite the bank will remain closed, all employees, DFIs, and MFBs will attend the office as it were a regular working day.
The reason why SBP has announced it as a holiday is that 1st July is the beginning of the new fiscal year in Pakistan. All banks and related financial organizations need to conclude annual closings of accounts of the previous year.
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