ISLAMABAD: The Central Directorate of National Savings (CDNS) has successfully achieved a target of Rs 1200 billion in fresh bonds in the current fiscal year, from July 1 to March, 21.
Exceeding its initial goal, CDNS has achieved a milestone of Rs 1.6 trillion in fresh bonds, far exceeding the target of Rs 1.2 trillion. This achievement marks an increase of Rs 200 billion compared to the previous fiscal year’s target of Rs 1.3 trillion.
With a revised saving target of Rs 1.4 trillion for the current fiscal year (2021-22), CDNS aims to further foster a culture of savings across the nation, considering the prevailing market trends.
In its commitment to institutional reforms, CDNS is introducing innovative measures, including the implementation of Automated Teller Machines (ATMs) to enhance user convenience.
Regarding Islamic investment bonds, CDNS has collected a significant sum of Rs 60 billion by March 15th, 2023-24. For the upcoming financial year 2023-24, CDNS has set an ambitious target of Rs 75 billion for Islamic finance bonds.
Emphasizing the importance of Islamic finance in the global financial landscape, the CDNS official highlighted its pivotal role and the growing significance it holds in major economies worldwide. CDNS is keen on introducing new dimensions to Islamic finance, aiming to contribute further to its development and integration into the financial sector.
—APP
