Pakistani Banks to Close for Three Days Starting November 7, Including Iqbal Day Holiday
The State Bank of Pakistan has announced a public holiday on Monday, November 9, for Allama Iqbal Day, meaning banks will remain closed for three consecutive days when combined with the weekend.
Banks across Pakistan will remain closed for three consecutive days, from Saturday, November 7, to Monday, November 9, due to the weekend and a public holiday announced for Allama Iqbal Day. The State Bank of Pakistan (SBP) confirmed the closure in a circular issued on November 3, stating that the holiday will apply to all banks, development finance institutions (DFIs), and microfinance banks (MFBs).
The federal government has declared November 9 a public holiday to commemorate the birth anniversary of Allama Muhammad Iqbal, the national poet of Pakistan, who was born on November 9, 1877. As a result, banking services involving public dealings will be suspended for the day.
Normal banking operations are expected to resume on Tuesday, November 10. The SBP's circular was addressed to the presidents and chief executives of all banks, DFIs, and MFBs, instructing them to observe the holiday.
The three-day closure may affect routine financial transactions, including cheque clearing, fund transfers, and bill payments. Customers are advised to plan their banking activities accordingly.
This closure is part of the regular public holiday schedule and is not expected to impact long-term banking operations.
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