KARACHI (Daily Point) — The State Bank of Pakistan (SBP) has declared its closure on Monday, December 25, 2023, in observance of Quaid-e-Azam Day and Christmas.

This decision aligns with the public holiday announcement made by the Government of Pakistan. The closure extends to commercial banks as well, resulting in a three-day consecutive shutdown, encompassing Saturday, Sunday, and Monday.

The circular issued by the central bank today stated, “The State Bank of Pakistan will remain closed on December 25, 2023 (Monday) being a public holiday on the occasions of Quaid-e-Azam Day and Christmas, as declared by the Government of Pakistan.”

In concurrence with this, the Pakistan Stock Exchange (PSX) also confirmed its closure on December 25, citing the same reasons.

The Cabinet Division, responsible for public holiday declarations, includes December 25th on its list of nationwide public holidays.

This collective decision ensures that both financial institutions and the stock exchange will be non-operational for the specified three-day period.