The Central Directorate of National Savings has secured Rs 35 billion in Islamic finance bonds in the mid of second quarter of the Current Fiscal Year 2023-24.
The National Savings has issued Islamic bonds for the promotion of the Islamic finance system, which will help the development of the Islamic economy in the country, a senior official of the Directorate of National Savings told.
CDNS had achieved a target of Rs 500 billion in fresh bonds in the current fiscal year, from July 10 to November.
CDNS had collected an investment of Rs 16 billion in July 2023-24 through Islamic investment bonds. The directorate had set a target of Rs 75 billion for the new financial year 2023-24 for Islamic finance bonds.
He informed that CDNS had achieved the set target of Rs 60 billion in the fiscal year (2022-23) for Islamic investment to introduce the new products in the market.
The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the current fiscal year.
