The State Bank of Pakistan, commercial banks, and other financial institutions will observe a bank holiday on Monday, March 3, 2025, to facilitate the annual deduction of Zakat, as mandated by the Ministry of Poverty Alleviation and Social Safety.
In compliance with the directives issued, all banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs) will suspend public dealings to process the Zakat deduction. However, employees of these institutions are required to report to work as usual, treating the bank holiday as a normal working day, except for public dealing.
Zakat Deduction Criteria
The Administrator General Zakat has set the Nisab of Zakat for the year 1445-46 A.H. at Rs. 179,689. Deductions will be made from Savings Bank Accounts, Profit and Loss Sharing (PLS) Accounts, and other similar accounts that hold a credit balance equal to or exceeding this amount on the first day of Ramadan-ul-Mubarak, 1446 A.H., which is the designated date for Zakat deduction.
Read: Sadaqah-e-Fitr, Fidya, and Zakat Amounts Announced
Accounts with a balance below the specified Nisab of Rs. 179,689 will not be subject to Zakat deduction, ensuring smaller savers are not unduly impacted.
