Banks to observe five-day working week

SBP says selected branches will remain open on Saturday to facilitate customers.

KARACHI: The State Bank of Pakistan (SBP) on Friday announced that SBP and all offices of its Banking Services Corporation, including public debt offices, will observe five-day working week with effect from October 15 as per notification issued by the federal government.

Therefore, Saturday and Sunday will be observed as holidays. However, selected bank branches will stay open on Saturday.

From Monday to Thursday, the SBP will observe office timings from 9.00 am to 5.30 pm (with lunch and prayer break from 1.30 pm to 2.15 pm) and on Friday from 9.00 am to 6.00 pm (with lunch and prayer break from 1.00 pm to 2.30 pm).

All field offices of the SBP Banking Services Corporation will observe business hours from Monday to Thursday from 9.00 am to 1.30 pm and on Friday from 9.00 am to 1.00 pm. “These new office and business hours will remain effective till further orders,” SBP said in a press release.

With a view to ensuring availability of basic banking facilities to the customers, especially the business community, the SBP, in a circular, instructed banks to open selected branches in various business centres, commercial hubs, ports, etc on Saturday. However, head offices and other administrative offices of banks will remain closed on Saturday.

The business community had urged the government to allow some bank branches to stay open on Saturday because two-day holiday in a week would badly affect their daily banking transactions. Especially, businessmen from Karachi were worried owing to security issues as dealing in cash had become almost impossible in the city.

SBP said banks will decide how many branches they want to open on Saturday. They will submit a complete list of branches to be opened on Saturday to the Banking Policy and Regulations Department of SBP.

Published in The Express Tribune, October 15^th, 2011.