The Central Directorate of National Savings (CDNS) has achieved a target of Rs 960 billion in fresh bonds in the current fiscal year, from July 1 to January 9th 2023-24.
The CDNS surpassed the annual target and achieved the target of Rs. 1.6 trillion in fresh bonds in the current fiscal year, the senior official of CDNS told.
The senior official said this was a Rs. 200 billion additional annual target than the target of Rs. 1300 billion for the previous financial year 2021-22.
In view of the current market trend in the country, the ambitious target had been set to further improve the savings culture.
The official said that “work was being done on institutional reforms in CDNS and new reforms and innovations were being introduced.
At this time Automated Teller Machine (ATM) has also been introduced in CDNS which will provide enough facilities to the users”.
CDNS had collected an investment of Rs. 52 billion by January 9, 2023-24, through Islamic investment bonds.
The official added that the directorate had set a target of Rs. 75 billion for the new financial year 2023-24 for Islamic finance bonds.
Directorate further said that it had reviewed and set a target of Rs. 60 billion in the fiscal year 2022-23 for Islamic investment to introduce new products in the market.”Islamic finance has a very important role in the global financial sector at this time, and a large part of the economy of many major countries currently includes Islamic finance.
