The State Bank of Pakistan (SBP) has announced that all banks across the country will remain closed for public dealings on Monday, March 3, 2025, to facilitate the annual Zakat deduction process.
According to an official notification, the holiday has been declared in line with the Ministry of Poverty Alleviation & Social Safety’s directives dated February 27, 2025.
The closure will apply to all commercial banks, development finance institutions (DFIs), and microfinance banks (MFBs). However, bank employees will report to work as usual, as the day will be treated as a normal working day, excluding public transactions.
The annual Zakat deduction is carried out under the Zakat and Ushr Ordinance 1980, which mandates the deduction of 2.5% Zakat from savings accounts and similar financial instruments where applicable.
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Customers are advised to plan their financial transactions accordingly, as banking services will resume on March 4, 2025.
The Central Ruet-e-Hilal Committee, led by Maulana Abdul Khabir Azad, convened in Peshawar on Friday to determine the sighting of the Ramadan moon.
Maulana Azad announced later in a press conference that the Ramadan moon was not sighted anywhere in Pakistan, which means that the first roza in the country would be observed on Sunday.
Zonal committees across major cities, including Lahore, Karachi, Quetta, and Islamabad, also held meetings to assess moon sighting reports.
The Met Department reported heavy cloudy and windy conditions in several cities, including Islamabad, Lahore, and Quetta, reducing the likelihood of spotting the moon.
