Daily Times

The Central Directorate of National Savings (CDNS) has realized a target of Rs 1000 billion in fresh bonds in the current fiscal year, from July 1 to January 20th, 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 APP here on Monday.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. “The CDNS has set a reviewed saving target of Rs 1.4 trillion for the current financial year (2021-22) which will promote savings culture in the country,” he said. In view of the current market trend in the country, the ambitious target had been set to further improve the savings culture, he said.

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,” he added. Replying to a question, he said the CDNS had collected an investment of Rs 55 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. Replying to a question; he said the CDNS aimed to introduce new dimensions in the Islamic finance sector.