The State Bank of Pakistan, along with commercial banks and other financial institutions, will remain closed for public dealings on Monday, March 3, 2025, in observance of a “Bank Holiday” for the purpose of Zakat deduction.
This year, the Administrator General of Zakat has set the “Nisab of Zakat” for the Zakat Year 1445-46 A.H. at Rs. 179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only).
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In accordance with instructions from the Ministry of Poverty Alleviation and Social Safety, the central bank announced on Friday that all banks, Development Finance Institutes (DFIs), and Microfinance Banks (MFBs) will remain closed for public dealings on Monday, March 3, 2025. However, all employees of these institutions are required to attend work on the Bank Holiday, treating it as a normal working day, except for public dealings, as stated in a circular issued by the Banking Policy and Regulations Department (BPRD).
Zakat will be deducted from Saving Bank Accounts, Profit and Loss Sharing (PLS) Accounts, and other similar accounts with a credit balance of Rs. 179,689 or more on the first day of Ramzan-ul-Mubarak, 1446 A.H., which has already been designated as the deduction date.
No Zakat will be deducted at source if the balance in an account is below the specified limit.
