SBP announces bank holiday on first day of Ramadan


– File photo.

KARACHI: The State Bank of Pakistan (SBP) on Monday confirmed that the first day of Ramadan will be a bank holiday and public dealing will be closed for deduction of Zakat.

In a statement, the central bank said: “Therefore, all banks / DFIs / MFBs will be closed for public dealing on the first of Ramadan, 1442 AH.”

The day before, the federal government had announced the syllabus rate for Zakat for.

The syllabus is a fixed amount that a person must have in order to be able to pay taxes in his account after deducting necessary expenses.

According to the notification issued by the Administrator General Zakat for the lunar year 1441-42 AH, those who have a savings, profit and loss distribution of at least Rs. 80,933 on the first day of Ramadan Will be Paying 2.5% Zakat pay on total balance.

Earlier today, Maulana Abdul Khabir Azad, chairman of the Central Route Hilal Committee, had said that the committee would meet tomorrow (Tuesday) in Peshawar to observe the holy month of Ramadan.

Talking to Geo News, Maulana Azad said that the committee has also invited Mufti Popalzai to attend the meeting.

“I pray to God that we reach a consensus with Mufti Popalzai,” he said. Maulana Azad further said that if Allah wills, our decision and the decision of Mufti Popalzai regarding the beginning of Ramadan will be the same.

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