Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

MPS Preview: High for Longer

SBP and PSX announce Financial Market Timings for the Month of Ramadan

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Central Bank

In a circular issued by the State Bank of Pakistan addressed to all banks, development finance institutions (DFIs) and microfinance banks (MFBs) informed them of the timings for the month of Ramadan starting from 28th of May. The aforementioned institutions will stay open from Monday to Thursday between 8am to 2:15pm without any break. On Fridays, the timings will be from 8am to 1pm.

Hours for business and banking dealings for public dealing will be from 8am to 1:45pm from Monday to Thursday, whereas on Friday it will be from 8am to 12:30pm.

In an additional circular, the State Bank announced that it will remain closed for public dealings on May 29th, 2017. The holiday on the date will be observed as “Bank Holiday” for the purpose of Zakat deduction.

All banks, DFIs and MFBs shall, therefore, remain closed for public dealing on May 29, 2017. However, all employees of the banks, DFIs and MFBs will attend the office on Bank Holiday treating it as normal working day (except for public dealings).

Pakistan Stock Exchange

Pakistan Stock also issued a notice for trading/office timings of the exchange during the month of Ramadan. The market timings shall be 9am to 2pm form Monday to Thursday. And on Friday the market timings shall be 8:30am to 12noon. 

Posted on: 2017-05-26T12:57:00+05:00