KARACHI (Azaad English): According to the announcement of the State Bank of Pakistan (SBP), all public and private banks in Pakistan will operate without public service activities on Monday March 3rd 2025 to complete Zakat tax procedures.
This observance takes place annually at the beginning of Ramadan working day that starts March 2 this year.
The State Bank of Pakistan (SBP) declared Monday to be a banking closure day for public dealings specifically for Zakat deduction.
According to that notification by Administrator General Zakat, Zakat will be deducted from bank accounts holding a minimum balance of Rs179,689 on the first day of Ramadan 1446 Hijri. The Zakat threshold was Rs135,179 in 2023 while in 2024 the zakat threshold was Rs103,159.
The staff members of banking institutions must appear for work but they will conduct no activities with public clients.
Every year banks conduct Zakat deduction on the first day of Ramadan through their regular closures to the public. As part of their customer services banks enable the mandatory charitable donation known as Zakat through in-house facilitation systems.
Banks will resume normal business activities following the bank holiday that takes place on March 3.
