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2 months ago

Banks, stock markets to remain closed for five days for Eid-ul-Fitr

Bangladesh Bank has instructed commercial banks to provide 24/7 service through alternate banking methods

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Banks and capital markets will remain closed for five days for the Eid-ul-Fitr and Bengali New Year holidays.

The National Moon Sighting Committee will announce the date for Eid-ul-Fitr on Tuesday evening. Since the moon was not sighted in Saudi Arabia on Monday, there is a possibility that Muslims will observe 30 days of fasting this year and celebrate Eid on Thursday.

The public holiday for this Eid-ul-Fitr will be from April 10 to April 12. As April 13 falls on the weekend and the Bengali New Year falls on April 14, banks and capital markets will remain closed for a total of five days.

Regular transactions will resume on April 15.

Bangladesh Bank has instructed ATM booths, mobile financial services, and internet banking apps to remain open at all times during the Eid holidays as an alternative to banking transactions.

A circular was also sent to commercial banks to take corrective action as soon as possible in case of a technical glitch at the ATM booths.

Bangladesh Bank has also directed the banks to keep sufficient funds in the booths while bolstering security measures. It has also asked commercial banks to ensure that people have access to a 24/7 helpline service in case of an emergency.

According to officials of the Dhaka Stock Exchange, trading will resume at 10am after Eid and continue until 2:20pm with a 10-minute post-closing period.

Office hours will be from 9am to 4:30pm after Eid.

Regular banking hours of 10am to 5pm will be restored after the holiday. However, transactions will only be available until 3:30pm.

The central bank has also directed that all branches, sub-branches and bank booths located near sea, land and airport areas must remain open 24 hours a day during the Eid holidays.

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