The State Bank of Pakistan (SBP) has officially announced that it will remain closed on Friday, 29th September 2023. This closure is in observance of the public holiday marking Eid Milad-un-Nabi, the birth of the Holy Prophet (PBUH). The announcement was made through a circular issued by the central bank.
Eid Milad-un-Nabi, celebrated on the 12th of Rabi-ul-Awwal, is a significant occasion for Muslims worldwide. It commemorates the birth of the Holy Prophet (PBUH), and is locally known as Eid Milad-un-Nabi in Pakistan.
In addition to the SBP, commercial banks across the country will also remain closed on this day. This decision aligns with the practice of observing public holidays on religious occasions, ensuring that employees can participate in the celebrations.
Furthermore, the Pakistan Stock Exchange Limited (PSX) has also announced its closure on the same day. The bourse issued a notification informing all TRE Certificate Holders, staff, and concerned parties about the closure on account of Eid Milad-un-Nabi.
These closures are part of the broader observance of the religious holiday, allowing individuals working in these sectors to join in the celebrations of this auspicious occasion. As such, customers are advised to plan their banking and stock exchange activities accordingly to avoid any inconvenience.
