SBP announces closure of Banks. The State Bank of Pakistan (SBP) announced a public holiday on September 29 to commemorate Eid Milad-un-Nabi.
As a result, all banks and SBP centres will be closed on that day.
The SBP announced the public holiday in a statement on September 26.
The decision to declare a public holiday on September 29 was made in accordance with the government’s decision to declare a public holiday on that day for Eid Milad-un-Nabi, according to the statement.
Also read: SBP issues Rs75 commemorative banknote to mark foundation day
SBP announces closure of Banks, check the Tweet:
#SBP will remain closed on September 29, 2023 on the occasion of Eid Milad-un-Nabi SAW.https://t.co/5bck2fdsqo#SBPPressRelease pic.twitter.com/bA4w2oewNZ
— SBP (@StateBank_Pak) September 26, 2023
Eid Milad-un-Nabi is a Muslim holiday that commemorates the birth of the Prophet Muhammad (peace be upon him).
The State Bank of Pakistan serves as Pakistan’s central bank.
Its Constitution, as originally outlined in the State Bank of Pakistan Order 1948, remained largely unchanged until 1 January 1974, when the bank was nationalized and its functions were significantly expanded.
The State Bank of Pakistan Act 1956, as amended, serves as the foundation for its operations today.
The headquarters are located in the financial capital of the country Karachi. The bank has a fully owned subsidiary with the name SBP Banking Services Corporation (SBP-BSC), the operational arm of the Central Bank with Branch Office in 16 cities across Pakistan, including the capital Islamabad.
