Bank holiday tomorrow, capital market to remain closed too
Traditionally, there are two such bank holidays each year, with the other on 31 December
Transactions at all scheduled banks will remain closed today on the occasion of bank holiday.
Commercial bank employees work overtime on the last day of June each year to finalise half-yearly accounts. Consequently, 1 July is designated as a "bank holiday".
At the same time, there will be no transactions on the Dhaka Stock Exchange and the Chittagong Stock Exchange today since all banks will remain closed.
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Banks finalise their financial accounting of the past six months on 30 June. The half-yearly balance sheets are prepared by consolidating accounts from various branches nationwide.
Traditionally, there are two such bank holidays each year, with the other on 31 December. On this day, banks finalise the financial accounting for the entire year.
The Bangladesh Bank declares these two days as "bank holidays" in the annual list of public holidays.
After buying and selling of shares in the capital market, the transactions are made through the banks. If the banks are closed, the capital market also remains closed.
On these two days, banks are open only for internal business, with no transactions taking place.
The main offices and important branches of all banks, including the Bangladesh Bank, will remain open.
Banks will return to their regular schedule on 2 July. The central bank will follow the same schedule as commercial banks in this regard.
