State Bank of Pakistan reinstates Saturday holidays for banks

• SBP reverses six-day working week decision in less than a month’s time.
• Banks to remain open from Monday to Friday from 09:00-17:00pm.
• On Fridays, the banks will remain open from 09:00-18:00pm.

KARACHI: The State Bank of Pakistan (SBP) announced on Friday it was reverting to a five-day workweek by reinstating Saturday as a holiday for banks, less than a month after the federal government increased working hours for banks and government offices.

On April 13, the central bank had announced it was increasing the working hours of banks on the directives of the federal government by declaring Saturday — otherwise a holiday — as a working day.

Today, however, the central bank announced the reversal of that decision by stating that banks across the country will remain closed on Saturdays.

As per the SBP, banks will remain open from 09:00-17:00pm, Monday to Thursday, observing breaks from 13:30-14:15pm for prayers and lunch.

On Fridays, the banks will remain open from 09:00-18:00pm, observing a break from 13:30 to 14:30pm for lunch and prayers.