The State Bank of Pakistan (SBP) has announced that all banks in the country will remain closed for public dealings on Monday, March 3, 2025, to facilitate the annual Zakat deduction process. The decision follows directives from the Ministry of Poverty Alleviation & Social Safety issued on February 27, 2025.
The closure will affect all commercial banks, development finance institutions (DFIs), and microfinance banks (MFBs). However, bank employees will still report to work as the day will be considered a regular working day, excluding public transactions.
Also Read: SECP Requires Fatwa for Islamic Donations by Non-Profits
As per the Zakat and Ushr Ordinance 1980, the deduction of 2.5% Zakat applies to savings accounts and similar financial instruments where applicable. Customers are advised to plan their transactions accordingly, as normal banking services will resume on March 4, 2025.
Separately, the Central Ruet-e-Hilal Committee, led by Maulana Abdul Khabir Azad, announced that the Ramadan moon was not sighted, meaning the first roza in Pakistan will be observed on Sunday. Due to heavy clouds and windy conditions across cities like Islamabad, Lahore, and Quetta, the moon sighting was hindered.
