Banks, SBP and PSX to remain closed for three days

Banks and other financial institutions across Pakistan will observe a three-day closure from August 14 to August 16 in connection with Independence Day and the regular weekend holidays.

Banks and other financial institutions across Pakistan will observe a three-day closure from August 14 to August 16 in connection with Independence Day and the regular weekend holidays.

According to a circular issued by the State Bank of Pakistan (SBP), the central bank, commercial banks, financial institutions and the Pakistan Stock Exchange (PSX) will remain closed on Friday, August 14, which has been declared a public holiday on account of Independence Day.

The closure will be followed by the regular weekend holidays on Saturday and Sunday, August 15 and 16, respectively. As a result, banking and stock market activities will remain suspended for three consecutive days.

The holiday schedule is expected to affect routine banking operations, including branch-based customer services and other in-person transactions. Customers who need to visit bank branches or carry out services that require physical processing have been advised to plan their transactions accordingly.

However, the closure will not affect digital banking facilities. The SBP said automated teller machines (ATMs), internet banking and other online banking services will continue to operate during the holidays.

Customers will therefore be able to access cash through ATMs and use digital channels for eligible transactions throughout the three-day break.

Regular banking and financial market operations are expected to resume on Monday, August 17, when banks, financial institutions and the stock market reopen after the Independence Day holiday and weekend.