GlobalWhy are the banks closed this February 5?

Why are the banks closed this February 5?

This Monday February 5 is carried out first long holiday of 2024 in Mexico, so it is common for many work centers to close their doors and stop providing service, including banksbut Why won’t they open?

The reason is that this day commemorates the promulgation of the Constitution of 1917, which is the one that currently establishes the laws and rights that must be complied with in our country. This document, which was promulgated by the then president Venustiano Carranza and the Constituent Congress, marked a before and after in Mexico, since it is considered the first Magna Carta worldwide to provide social guarantees.

Historically it is also considered to have marked the end of the Mexican Revolution by expressing the rights that were sought to be given to the peasant and lower class people in Mexico.

What days are banks not open in Mexico?

For this reason, its commemoration is established as a holiday and according to the National Baking and Stock Commission (CNBV), being the February 5 mandatory restthe workers of the banks do not have to show up for work. Apart from this February 5, during the year there will be other days when banks close their doorsas they are:

  • March 21st.
  • 28th March.
  • March 29.
  • May 1.
  • 16 of September.
  • October 1st.
  • The third Monday in November.
  • December 2
  • November 18th.
  • December 12th
  • December 25th.

On the other hand, since this is a holiday February 5thworkers who are forced to report to their jobs must receive a double salary for the service provided, that is, they must be paid the normal daily salary plus double.

This according to the article 75 of the Federal Labor Lawwhich establishes that: “the workers will be obliged to provide the services and will have the right to be paid, regardless of the salary that corresponds to them for the mandatory rest, a double salary for the service provided.”

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