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Circulars/Notifications - Banking Policy & Regulations Department Quarterly

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BPRD Circular No. 11 of 2011 October 14, 2011
Annual

Research & Paper Series

The Presidents/Chief Executives
All Banks / MFBs Occasional

All

Dear Sirs/Madam,

FIVE DAYS WORKING WEEK

As per decision of the Federal Government, vide Notification No. 2/7/2011-Public dated October 13, 2011 five days
working week will be observed by State Bank of Pakistan. Accordingly, State Bank of Pakistan shall remain closed on
Saturdays and Sundays.

2. The following office timings will be observed by State Bank of Pakistan with immediate effect till further orders:

Monday to 9 am to 5.30 pm (with lunch/prayer break from 1.30

1
Thursday pm to 2.15 pm)
9 am to 6.00 pm (with lunch/prayer break from 1 pm to
2 Friday
2.30 pm)

3. However, in order to ensure availability of basic banking facilities to business community, it has been decided
that selected branches of banks in various business centers/commercial hubs/ports etc. will remain open, while the
Head Offices and other administrative offices of banks will remain closed on Saturdays. In this regard, banks may at
their own decide the number of branches that will be opened on Saturdays. Also, the Banks' collection booths located at
Custom Houses/Ports shall remain open 24/7 as per existing practice. The banks will submit a complete list of branches
to be opened on Saturdays to the Banking Policy & Regulations Department by October 18, 2011.

4. Nonetheless, to ensure that opening of selected number of branches would also support the underlying
objective of the Government to conserve energy, it has been decided that the branches to be opened on Saturdays
would perform only those banking activities that will be absolutely necessary to facilitate the people. The list of
activities permissible to be carried out on Saturdays is as under:

Cash Receipts and Payments

Collection of Government Revenues (Taxes, Custom Duties etc.)
Government Payments (Pensions, Salaries etc.)
Online Transactions/Fund Transfer (wherever possible)
Collection of Utility Bills
Issuance of Demand Drafts, Pay Orders, Traveler Cheques etc.
Collection of Cheques and other related instruments (the instruments received for clearing will be processed on
next working day)
Acceptance of Documents/Opening of Inland & Foreign Letter of Credit (not forward cover)

5. For the purpose, the banks should ensure deployment of minimal number of staff absolutely necessary to carry
out the above functions with the clear instructions to ensure minimum possible use of electric appliances. The banks
will also observe the other instructions of Government of Pakistan regarding energy conservation.

6. For the information of the customers, the banks shall prominently display in the concerned branch that this
branch will be opened on Saturdays for carrying out basic banking activities (list of activities to be mentioned in the
notice).

7. Above instructions are applicable with immediate effect. In case of any query or clarification, please contact the
following officers;

Mr. Muhammad Akhtar Javed, Additional Director, BPRD

Phone No. 021-32453503, 021-99221397
akhtar.javed@sbp.org.pk

Mr. Shahid Rabbani, Senior Joint Director, BPRD

Phone No. 021-32453531, 021-99212961
shahid.rabbani@sbp.org.pk

8. Please ensure meticulous compliance of the above and acknowledge receipt.

Yours truly

Sd/-
(Mansoor H. Siddiqui)
 Director

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