According to Bangladesh Bank sources, every year on July 1, 'Bank Holiday' is observed on the occasion of the half-yearly closing in the banking sector. On this day, banks finalize their six-month financial accounts and complete the preparation of half-yearly financial reports.
Due to this, all types of customer transactions remain closed at bank branches. However, Bangladesh Bank, the head offices of scheduled banks, and some necessary important branches remain open on a limited scale. Only internal administrative and accounting activities are conducted at these offices.
Services that will remain closed
On the Bank Holiday, no money can be deposited or withdrawn from any branch. Additionally, all types of branch-based customer services, including check settlement, demand drafts, and pay orders, will remain closed.
No transactions in the stock market either
Due to the closure of banking activities, share transactions will also remain closed on Wednesday at the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). This is because capital market transactions and settlements depend on the banking system.
Two days of Bank Holiday per year
In Bangladesh, 'Bank Holiday' is observed twice a year. One is on July 1, designated for the half-yearly account closing. The other is on December 31, when banks finalize annual accounts and complete the preparation of financial statements.
