SBP Extends Operation Timings for Banks

State Bank of Pakistan (SBP) has extended banks branch timing from 9 pm to 5.30 pm for commercial and microfinance banks to be effective from July 13.

According to the notification, banks will ensure the banking timing from Monday to Thursday with a break between 1.30 pm to 2 pm. On Friday, the branches will take a break from 1 pm to 2.30 pm for prayers and lunch.

The revised banks’ timing will meet the requirement of the customers with the reopening of the businesses across the country.

SBP allows banks and microfinance banks to decide to keep the business hours for public dealings intact.

The central bank has lessened the working hours of the branches from 10 pm to 4.30 pm since late March 2020 as a preventive measure from the Covid-19 outbreak. Alternatively, the central bank promoted digital banking in order to reduce the visit of the customers to the branches.

Bankers from various cities have become victims of the pandemic in the line of duty even some of the officials lost their lives, unfortunately. As a result, branches were closed for business as per the guidelines of the central bank in order to contain the spread of the virus among customers and bankers.

There are 91% of banks branches are operative across the country, SBP claims. The services of the banks to the customers immensely increased in the past few months due to various relief and stimulus schemes introduced by the SBP over the period of time.