Karachi: The Pakistan State Bank (SBP), commercial banks and other financial institutes must remain closed for the public transaction on Monday, March 3, which will be observed as “banking celebrations” for the purposes of the deduction of Zakat.
This year, the general administrator Zakat informed the “Nisab of Zakat” for the year Zakat 1445-46 Ah at Rs179 689.
On Friday, the central bank, while referring to the instructions of the Ministry of Poverty and Social Security, circulated Friday that all banks, development financing institutes (DFIS) and microfinance banks (MFB) will remain closed for public treatment on Monday March 3, 2025.
However, all the employees of the banks, the DFIS, the MFBS will attend the Public Days Office by treating it as a normal working day (with the exception of the public transaction), a circular letter issued by the Department of Policy and Banking Rules (BPRD).
The deduction of Zakat of savings bank accounts, profits and loss accounts (PLS) and other similar accounts with a credit balance of RS179 689 will be carried out on the first day of Ramadan which has already been notified on the date of deduction.
No deduction from Zakat at the source will be made in the event of a credit amount to an account is lower than the specified limit.
The people of Pakistan are expected to observe their first Ramadan 2025 fasting on Sunday March 2, after the announcement by the Central Committee of Rue-E-Hilal of the observation of the Moon in the country.