All types of transactions in banks will be closed on Monday, which is July 1, also known as “Bank Holiday”. Due to this, no transactions will also take place at the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) on Monday.
Banks' six-month financial accounting period ends on June 30. The half-yearly balance sheet is prepared by consolidating the accounts sent from various branches across the country. Due to the preparation of the financial statements, the day after, July 1, is observed as a bank holiday.
Traditionally, there are two 'bank holidays' each year. The other day is the last day of the year, December 31. On this day, the annual financial accounts are finalised. Each year, Bangladesh Bank (BB) announces these two days as 'bank holidays' in their holiday list.
Although trading in the stock market will be closed on Monday, official activities will continue at DSE and CSE. On these two days of the year, banks remain open only for internal work and no transactions take place.
Stock market transactions involve the transfer of money through banks. If the banks are closed, transactions in the stock market are also halted.
However, the head offices and important branches of all banks, including BB, will remain open.
On Tuesday, the banks will operate as usual from 10am to 6pm. BB will follow the same schedule as commercial banks and stock market transactions will proceed as usual.
