ISLAMABAD: Aiming to issue new bonds of Rs 1000 billion, the Central Directorate of National Savings (CDNS) completed the current fiscal year, which runs from July 1 to January 20, 2023–2024.
The senior CDNS official told APP here on Monday that the organization exceeded its yearly target and hit its goal of issuing Rs 1.6 trillion in new bonds in the current fiscal year.According to the senior official, this is an annual aim of Rs 200 billion more than the Rs 1300 billion objective for the fiscal year 2021–2022.
For the current fiscal year (2021–2022), “the CDNS has set a reviewed saving target of Rs 1.4 trillion which will promote savings culture in the country,” he stated. He stated that the challenging goal had been set to further enhance the savings culture in light of the nation’s present market trend.
According to the official, new innovations and reforms were being introduced together with ongoing work on institutional improvements in CDNS.”Automated Teller Machines (ATMs) have been introduced in CDNS at this time, offering enough facilities to the users,” he continued.
In response to a query, he stated that as of January 9, 2023–2024, the CDNS had gathered an investment of Rs 55 billion via Islamic investment bonds. The official went on to say that the directorate had set a goal for Islamic financing bonds for the upcoming financial year 2023–2024 of Rs 75 billion.
In response to a query, he stated that the CDNS sought to provide fresh perspectives to the Islamic finance industry.
He told the directors that after reviewing it, the board has decided to put aside Rs 60 billion for Islamic investment to launch new items in the market during the fiscal year 2022–2023.”Islamic finance currently plays a very important role in the global financial sector, and it currently makes up a large part of the economies of many major countries,” he continued.
