ISLAMABAD: The Central Directorate of National Savings (CDNS) has successfully implemented the reform and automation program in the institution and the reform agenda to be completed soon and then the entire institution will be digitized.
ATM (Automated Teller Machine) facility has been provided in CDNS which is successfully continuing its services for the convenience of customers, a senior CDNS official told APP here on Tuesday.
Currently, an automated teller machine (ATM) has also been introduced in CDNS, which will provide enough facilities to users,” he added.
The official said that institutional reforms are being worked on in the CDNS and new reforms and innovations are being introduced.
The official said a lot of work has been done on institutional reforms in the CDNS.
Considering the current market trend in the country, an ambitious goal has been set to further improve the savings culture, he added.
Answering another question, he said that CDNS has set an annual target of Rs 1650 billion for the current fiscal year 2024-25, which will promote a savings culture in the country.
He said the CDNS had met the target of Rs 1.742 trillion in fresh bonds and crossed 100 percent of the annual target in the last fiscal year 2023-24, from July 1 to June 30.
National Savings has set an annual target of Rs 1.7 trillion for 2023-24; it is encouraging that this year “we surpassed 100 percent of the annual goal.”
The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the previous fiscal year 2022-23, he said.
He said this is an additional annual target of Rs 200 billion over the target of Rs 1,300 billion for the previous financial year 2021-22.
CDNS has set a revised savings target of Rs 1.4 trillion for the financial year (2021-2022) which will promote a savings culture in the country, he said, adding that given the current market trend in the country, an ambitious target has been set. further improve the savings culture.
Responding to another question, he said that CDNS has set a target of investing Rs 170 billion in Islamic finance for the current fiscal year, which will lead to the growth of Islamic economy in the country.
“National Savings has issued Islamic bonds to support the Islamic financial system, which will help the development of the Islamic economy in the country,” he said. He said that CDNS had achieved a target of Rs 75 billion during the last fiscal year (2023-24) from Islamic bonds and therefore focused on introducing new dimensions in the Islamic finance sector.
