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19 April 2024

Eid break: 3-day off for banks; markets get 5

Published

Banks in the UAE will remain closed on the first, second and third of Shawaal on the occasion of Eid Al Fitr.

The UAE has announced that the first and second of Shawwal – the first two days of Eid Al Fitr - will be paid holidays for private sector emplyees.

The Eid Al Fitr holiday for Federal ministries and departments will start on Sunday, August 28 and end on September 4, according to a circular issued by Humaid Obaid Al Qutami, Minister of Education and Chairman of the Federal Human Resources Authority.

Al Qutami congratulated President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and Their Highnesses Supreme Council Members and Rulers of the Emirates on the advent of Eid Al Fitr, and wished them good health.

The minister also congratulated the people of the UAE and those of the Arab and Muslim world on the happy occasion.

The first day of Eid Al Fitr will be on Wednesday, August 31, in most Muslim countries, Wam said, quoting Mohammed Shawkat Awdah, head of Islamic Crescents Observation.

 He added, "It is impossible to sight the moon from all regions of the Islamic world because of the setting of the moon before or with the sun, such as North and Central Asia, including the UAE, Qatar, Bahrain, Kuwait and northern and central Saudi Arabia, Iraq and the Levant and North Africa.

He explained that accordingly, the Islamic countries (which started Ramadan on Monday) is supposed to complement, a number of thirty days of Ramadan and the feast will be on Wednesday, August 31st in most Muslim countries.

He added: "As for countries that do not require sighting of the crescent, the first day of Eid Al Fitr will be on Tuesday, August 30.”

Eid Al Fitr holiday for financial markets

The Eid Al Fitr holiday for the financial markets will start on Tuesday, August 30 and run until Thursday, September 1, announced the Securities and Commodities Authority (SCA) on Monday.

It added that the transactions will be resumed on Sunday, September 4.

The SCA congratulated President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, Their Highnesses Members of Supreme Council and Ruler of emirates and the UAE people, on the advent of Eid Al Fitr.

 

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