KARACHI: The State Bank of Pakistan (SBP) has declared a bank holiday on July 1, 2024 (Monday) to make the first day of the new financial year 2024-25.
According to the SBP, all banks, development finance institutions (DFIs), and microfinance banks (MFBs) will remain closed for public dealing on July 1.
However, all employees of banks, DFIs, and MFBs are required to attend their offices as usual.
The central bank is expected to issue a circular in this regard today.
This temporary closure aims to facilitate administrative and operational adjustments necessary for the commencement of the new fiscal year across the banking sector.
