The Egyptian private sector will take next Thursday as a paid day off to commemorate the Islamic (Hijri) new year, Minister of Manpower Mohamed Saafan announced on Sunday.

The new Hijri year, 1443, is estimated to start on Monday, according to astronomical calculations, but the government decided last year to grant Thursdays as a day off in cases where national holidays fall on weekdays.

While employers can still assign employees to work on that day, they should be paid double the normal wage, the manpower minister explained in a statement.

This statement comes on the heels of an announcement by Prime Minister Mostafa Madbouly last week stating that Thursday will be a holiday for the public sector employees, a cabinet statement read.

The premier’s decision applies to ministries, governmental bodies, general authorities, local administration units, public enterprises and public business sector companies.

Earlier today, the Central Bank of Egypt (CBE) also announced Thursday off at all banks operating in the country.

The Egyptian stock exchange announced it will be off on Thursday for the same occasion.

Egyptian banks and the stock exchange are to resume their work as of Sunday 15 August.