Banks Closed on 1st July Bank Holiday for Financial Year-End
The bank holiday will allow financial institutions to focus on internal operations, such as ledger balancing and account audits, without interruptions from public dealings, ultimately contributing to the country's financial stability and growth.
The State Bank of Pakistan has announced that all banks across the country will be closed on July 1, 2025, for an annual bank holiday, marking the end of the financial year, to allow for internal operations like ledger balancing and account audits.
This bank holiday is not a public holiday, and while public services will be unavailable, bank employees are required to report to work as usual. The holiday is intended to enable banks to finalize accounts and prepare for the new fiscal year, ensuring effective financial planning and transparency.
The State Bank of Pakistan (SBP) has confirmed that the bank holiday on Tuesday, July 1, 2025, will be observed by all public and private banks, development finance institutions, and microfinance banks. However, it is essential to note that bank employees will attend the office as per their normal routine, and public dealing will resume on Wednesday, July 2, 2025.
The decision to observe a bank holiday on July 1, 2025, is in line with the central bank's statement, which cited the day as a bank holiday. This move will facilitate the banks in completing their year-end tasks and ensuring a smooth transition into the new fiscal year.