HomeNewsOn December 31, banks will be open for extended hours

On December 31, banks will be open for extended hours

For the purpose of collecting government receipts, duties, and taxes on December 31 (Saturday), the authorized branches of the National Bank of Pakistan (NBP) and field offices of the State Bank of Pakistan (SBP) will be open for a longer period of time.

The SBP Banking Services Corporation (SBP-BSC) field offices and authorized NBP branches will operate with extended hours on December 30 (Friday) and December 31 (Saturday), respectively, in order to facilitate the collection of government receipts, duties, and taxes, the central bank announced on Monday. 

National Institutional Facilitation Technologies (NIFT) was instructed by the central bank to set up a “special clearing” for the same clearing of payment instruments at 8 p.m. on December 31.

Read: On Wednesday, the Cabinet will consider the Toshakhana report

Additionally, it has been recommended to all banks to keep their locations open on December 31 for as long as it takes to enable the NIFT’s special clearing of government transactions.

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