Bank holiday tomorrow: Banking, stock market services to remain closed nationwide

Highlights

• Nationwide suspension of customer banking and stock trading on 1 July
• Scheduled banks use the day to finalise half-yearly accounts
• Cash transactions, cheque clearing, and over-the-counter services are shut
• Bank head offices and Bangladesh Bank remain open for administrative work
• A similar closing holiday is observed at the end of the year on 31 December

A bank holiday will be observed across the country on Wednesday (1 July), with all customer banking services and stock market trading remaining suspended nationwide.

According to Bangladesh Bank sources, 1 July is observed as the half-yearly closing date for the banking sector. Scheduled banks use the day to reconcile accounts, prepare half-yearly financial statements and complete other year-end accounting formalities.

As a result, all customer services at banks will remain unavailable throughout the day. Cash deposits and withdrawals, cheque clearing, demand drafts, pay orders and other over-the-counter banking services will remain suspended. Interbank settlement activities will also be halted.

Trading at both the Dhaka Stock Exchange and Chittagong Stock Exchange will also remain closed, as settlement operations depend on the banking system.

However, the head offices of commercial banks, Bangladesh Bank and a limited number of designated branches will remain open to carry out internal account reconciliation, financial reporting and essential administrative work.

Besides 1 July, banks also observe a holiday on 31 December each year to complete annual closing activities. This system ensures accurate financial reporting and proper account management within the banking sector.

Banking experts say these scheduled holidays help ensure accurate financial reporting, strengthen internal controls and risk management, and support the maintenance of banking infrastructure, contributing to greater transparency and efficiency in the financial system.