The State Bank of Pakistan (SBP) has announced that all banks nationwide will remain closed to the public on Monday, March 3, 2025, to facilitate the annual Zakat deduction process.
As per an official notification, the holiday aligns with directives issued by the Ministry of Poverty Alleviation & Social Safety on February 27, 2025.
The closure will impact all commercial banks, development finance institutions (DFIs), and microfinance banks (MFBs). However, bank employees will continue their regular duties, as the day will be treated as a standard working day without public transactions.
The annual Zakat deduction is conducted under the Zakat and Ushr Ordinance 1980, which mandates a 2.5% deduction from eligible savings accounts and financial instruments where applicable.
Customers are advised to plan their financial activities accordingly, as banking services will resume on March 4, 2025.
Meanwhile, the Central Ruet-e-Hilal Committee, chaired by Maulana Abdul Khabir Azad, met in Peshawar on Friday to determine the sighting of the Ramadan moon.
Following the meeting, Maulana Azad announced in a press conference that the Ramadan crescent was not sighted anywhere in Pakistan, confirming that the first fast (roza) will be observed on Sunday.
Zonal committees in major cities such as Karachi, Lahore, Quetta, and Islamabad also convened to assess moon sighting reports.
The Meteorological Department reported cloudy and windy conditions in multiple cities, including Islamabad, Lahore, and Quetta, reducing visibility and the chances of spotting the crescent moon.
