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Banks to remain open for business from 9am to 5:30pm, says SBP

Banks to remain open for business from 9am to 5:30pm, says SBP

KARACHI: Banks in the country will remain open for business from 9am to 5:30pm, the State Bank of Pakistan announced on Thursday after it had issued revised timings due to the coronavirus outbreak in the country.

The new timings will be effective from July 13, the central bank said in its circular.

“Effective from July 13. 2020, the banks/MFBs shall observe the following office timings till further orders. However, banks/MFBs may prescribe business hours for branches as per their business requirement subject to observance of SP business (banking) hours public dealings as notified vide BRPD Circular Letter No. 20 dated April 23, 2020,” it said.

Earlier, SBP had said banks would functionwith their critical staff and operate from 10am to 4:30pm, starting March 24 as the number of coronavirus cases in the country spiked.

In its circular, the SBP had said: “All branches/ work places will remain open, throughout Pakistan with bare minimum staff for ensuring the continuity of essential banking services.

“SBP is constantly evaluating the situation and implementing a number of measures to ensure the continuity of banking services during these difficult times,” the circular had stated.

It added that should a coronavirus case emerge at the premises of a branch, then it should be closed temporarily after intimation to the relevant authorities.