RegAlert
2017-12-05

Added

Official Holidays Applicable to Financial Institutions for the Year 2018

The Central Bank of Timor-Leste establishes the national holidays and official commemorative dates applicable to financial institutions for 2018, including New Year's Day, Good Friday, Independence Day, and Eid al-Fitr. The resolution mandates that financial institutions observe these specific dates as official holidays, while granting the Governor the discretion to permit closures on other government-established dates as point tolerance. The document specifies 17 distinct dates for 2018, noting that certain holidays, such as Eid al-Fitr and Eid al-Adha, have variable dates.

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RESOLUTION OF THE BOARD OF DIRECTORS
No. 63/2017

ON HOLIDAYS APPLICABLE TO FINANCIAL INSTITUTIONS IN THE YEAR 2018

In accordance with the provisions of Article 5, letter j), and Article 45, letter w), of Law No. 5/2011, of June 15 (Organic Law of the Central Bank), and Article 3 of Instruction No. 1/2005, the Board of Directors of the Central Bank of Timor-Leste resolves:

Article 1.
National Holidays and Official Commemorative Dates

The National Holidays listed in the annex to this Resolution are applicable to financial institutions.

Article 2.
Point Tolerance

The Central Bank of Timor-Leste may, on a case-by-case basis and through a Decision of the Governor, permit financial institutions to close their operations on dates established by the Government, in accordance with the law, as point tolerance.

Approved on December 5, 2017

Abraão de Vasconcelos
Governor

Resolution of the Board of Directors No. 63/2017 1 of 2

Annex to Resolution No. 63/2017

In conformity with Law No. 3/2016 of May 25, First Amendment to Law No. 10/2005 of August 10 Regarding National Holidays and Official Commemorative Dates, and with Instruction No. 1/2005 on Holidays Applicable to Financial Institutions, the Central Bank of Timor-Leste determines the following holiday dates for the year 2018 applicable to financial institutions:

No.DateDayDescription
01January 1MondayNew Year's Day
02March 3SaturdayVeterans' Day
03March 30FridayGood Friday
04May 1TuesdayWorld Labour Day
05May 20SundayRestoration of Independence Day
06May 31ThursdayCorpus Christi
07June 15*FridayEid al-Fitr Celebration
08August 22*WednesdayEid al-Adha Celebration
09August 30ThursdayPopular Consultation Day
10November 1ThursdayAll Saints' Day
11November 2FridayAll Souls' Day
12November 12MondayNational Youth Day
13November 28WednesdayProclamation of Independence Day
14December 7FridayMemory Day
15December 8SaturdayOur Lady of the Immaculate Conception, Patroness of Timor-Leste
16December 25TuesdayChristmas Day
17December 31MondayNational Heroes' Day

*Variable date holiday

Resolution of the Board of Directors No. 63/2017 2 of 2

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Law No. 10 dated 2005-08-10Law No. 10 dated 2005-08-10Official Holidays Applicableto Financial Institutions for…2017-12-05 · this documentOfficial Holidays Applicable to Financial Institutions for the Year 2018 (2017-12-05)
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