Wednesday Bank Holiday, transactions to remain suspended

All scheduled banks in the country will suspend all types of customer transactions, on account of the Bank Holiday on Wednesday (July 1). Trading at the country’s two stock exchanges will also remain closed. However, the Bangladesh Bank, head offices of various banks, and a few key branches will remain open on a limited scale.

According to sources at the Bangladesh Bank, July 1 is observed every year as a Bank Holiday for the banking sector's 'half-year closing.' During this time, banks finalize their financial accounts for the six months from January to June and prepare their half-yearly financial reports.

Consequently, customers will not be able to deposit or withdraw money at any bank branch on Wednesday. In addition, all branch-based banking services, including cheque clearing, demand drafts, and pay orders, will remain suspended. However, the head offices of the Bangladesh Bank and all scheduled banks, along with some critical branches, will remain open. No customer service will be provided at these offices; activities will be strictly limited to administrative, accounting, and internal official work.

Due to the Bank Holiday, trading in the country’s capital market will also be suspended. As a result, share buying and selling will remain closed at the Dhaka and Chittagong Stock Exchanges on Wednesday.

Bangladesh Bank officials explained that consolidating financial data sent from various branches across the country to prepare the half-yearly financial report is a critical and time-consuming process. Banking transactions for customers are temporarily suspended on July 1 every year to ensure this work is completed smoothly without interruption.

Regular operations and transactions at all banks and stock markets across the country will resume as usual the following day, Thursday (July 2).