Who decides bank holidays in Pakistan
Bank holidays in Pakistan follow the public holidays notified by the federal government. The State Bank of Pakistan (SBP) then issues its own notice that tells banks and other financial institutions when they will be closed for public dealing.
These are the main sources:
- Federal government notification. Each year the government publishes the list of public holidays.
- SBP holidays notice. The SBP confirms which of those days are bank holidays. It can also announce a separate bank-only closing that the public holiday list does not include.
- Pakistan Stock Exchange (PSX). The PSX publishes its own market holiday list for equity trading and settlement.
We do not copy holiday dates onto this page. The government can add or move days during the year, so check the current lists on the SBP website and the PSX website. Look at the date on each notice.
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Fixed and moving holidays
Pakistani holidays fall into two groups.
| Type | Examples | How the date is set |
|---|---|---|
| Fixed national days | Kashmir Solidarity Day, Pakistan Day, Labour Day, Independence Day, Iqbal Day, Quaid-e-Azam Day | Same calendar date every year |
| Islamic holidays | Eid ul Fitr, Eid ul Adha, Ashura, Eid Milad-un-Nabi | Lunar calendar, confirmed by moon sighting |
Islamic holidays move each year, and the exact day is often confirmed only shortly before. If a moon sighting changes an Eid date, the government and the SBP issue updated notices. Plan around the confirmed notice, not the expected date.
What closes on a bank holiday
On an SBP bank holiday:
- Bank branches are closed for public dealing.
- The local interbank market does not trade, so no new interbank USD/PKR rate is set for that day. See interbank vs open market.
- The SBP does not publish its daily reference rates for that day. See SBP exchange rates.
- KIBOR, the Karachi Interbank Offered Rate (the benchmark for bank lending), is not fixed. See KIBOR.
- Interbank transfers and cheque clearing wait until the next working day.
On a PSX holiday, equity trading and settlement stop. Trades settle on the next settlement day the PSX calendar allows. For how trading and settlement work, see PSX basics.
Market holidays in Pakistan vs global markets
A Pakistani holiday does not close global markets. Currency pairs such as EURUSD, gold (XAUUSD) and indices such as US100 keep trading under their own exchange and liquidity-provider schedules. They close for holidays in their own countries, such as US or UK market holidays.
So on Eid or Independence Day you may find that:
- global forex and gold quotes keep moving,
- local bank transfers, card payments and rupee conversions are delayed,
- a deposit or withdrawal through a Pakistani bank only completes after the holiday.
If you use Exness, check current processing conditions for your payment method in the Exness personal area before a long holiday. More on payments is on deposits and withdrawals.
For session times in Pakistan time, see trading hours (PKT). For scheduled data releases, see the economic calendar (PKT).
Holiday trading risks
When major markets are on holiday, trading can be thin. Spreads (the gap between buy and sell prices) can widen, and prices can gap when trading resumes. Positions held over a holiday or weekend can open at a very different price, which can skip past a stop-loss.
Leveraged CFD and forex trading can lose money fast, and holiday conditions can make this worse. Read risk management before holding positions through closures.
A simple holiday checklist
- At the start of the year, open the government holiday notification and the SBP holidays notice.
- Open the PSX holiday list if you trade or settle shares.
- Before Islamic holidays, watch for updated notices after the moon sighting.
- Make bank transfers before a holiday period, not on the eve of it.
- Check whether the global markets you follow are also closed.
Frequent questions
Where is the official list of bank holidays in Pakistan?
The SBP publishes the bank holidays notice on its website, based on the federal government's public holiday notification. Always check the date of the notice.
Are PSX holidays the same as SBP holidays?
They usually overlap, because both follow public holidays. The PSX publishes its own list, which can differ, especially for settlement. Check both.
Do forex markets close on Pakistani holidays?
No. Global forex and gold trading continue. Local banking, interbank rate setting and PSX trading stop.
Why did an Eid holiday date change?
Islamic holidays depend on moon sighting. The government and the SBP confirm or revise the dates in updated notices.
Does the SBP publish exchange rates on a bank holiday?
No new daily rates are set when the interbank market is closed. See SBP exchange rates and the wider SBP rates and economy section.