The Central Directorate of National Savings (CDNS) has successfully achieved its target of Rs 250 billion in fresh bonds for the current fiscal year, spanning from July 1 to September 5.
Surpassing its annual goal, the CDNS has reached a significant milestone, achieving a target of Rs 1.6 trillion in fresh bonds for the current fiscal year. This surpasses the previous year's target of Rs 1.3 trillion by an additional Rs 200 billion.
The CDNS has set a revised savings target of Rs 1.4 trillion for the current fiscal year (2021-22), with the aim of promoting a culture of savings across the country. This ambitious target reflects the current market trends and is designed to further enhance the savings culture.
The CDNS is actively working on institutional reforms, introducing new measures and innovations to enhance its services. Among these innovations is the introduction of Automated Teller Machines (ATMs) within the CDNS, providing enhanced convenience to users.
In response to a query, the official stated that the CDNS has successfully collected an investment of Rs 16 billion in Islamic investment bonds during the month of July 2023-24. The directorate has set a target of Rs 75 billion for Islamic finance bonds in the new financial year 2023-24, with the goal of expanding and diversifying the Islamic finance sector.
The CDNS aims to introduce new dimensions in the Islamic finance sector and has reviewed its targets, setting a goal of Rs 60 billion for Islamic investment in the fiscal year 2022-23 to introduce innovative products in the market. Islamic finance plays a significant role in the global financial sector, with many major countries incorporating it into their economies.
