Banks in Pakistan to Observe Holiday on November 9th, 2024

The State Bank of Pakistan (SBP) has announced that all banking and financial institutions will remain closed on November 9th, 2024, in observance of Allama Iqbal Day, a public holiday declared by the Government of Pakistan.

“The State Bank of Pakistan will remain closed on Saturday, November 09th, 2024, being a public holiday on the occasion of Allama Iqbal Day, as declared by the Government of Pakistan,” read a circular letter issued by SBP’s Banking Policy and Regulations Department.

A circular issued by SBP’s Banking Policy and Regulations Department on Wednesday confirmed that all banks, Development Finance Institutions (DFIs), and Micro Finance Banks (MFBs) will observe the holiday to mark the 147th birth anniversary of Dr. Allama Muhammad Iqbal.

The holiday was declared by a circular of SBP’s Banking Policy and Regulations Department on Wednesday that all the scheduled banks, Development Finance Institutions (DFIs), and Micro Finance Banks (MFBs) shall remain closed on November 9th, 2024, to commemorate the birthday of Dr. Allama Muhammad Iqbal rightly known as ‘Poet of the East’ and ‘Conceiver of Pakistan’.

The day serves as an opportunity for Pakistanis to pay tribute to Iqbal’s immense contributions to literature, philosophy, and the vision of the nation. As banks and schools will remain closed on this day, no notification of the Iqbal Day holiday has been issued by the federal or provincial governments so far.