RECORDER REPORT

KARACHI: The State Bank of Pakistan (SBP) and all banks will remain closed from 22nd to 27th May, 2020 (Friday to Wednesday) on the occasion of Eid-ul-Fitr.

However, SBP has said that banks/MFBs may open their selected branches on Wednesday, May 27, 2020 at their own discretion.

In order to ensure the availability of limited banking services to public at large during the extended holidays on the occasion of Eid-ul-Fitr, it has been decided that banks/MFBs may open their selected branches on Wednesday, May 27, 2020 at their own discretion in various business centres/commercial hubs etc. across Pakistan.

However, it may be noted that RTGS System and Clearing through NIFT will not be available on the above-mentioned date, SBP mentioned. Accordingly, NIFT will collect Financial Instruments from branches on Thursday, May 28, 2020 for clearing purposes. For this purpose, banks/MFBs have been asked to ensure the deployment of minimal number of staff necessary to carry out smooth working at their selected branches on the above date.