ISLAMABAD: The Central Directorate of National Savings (CDNS) has successfully raised Rs 550 billion in fresh bonds, achieving 15% of its annual target for the current fiscal year, according to a senior CDNS official told APP.
The CDNS has set an annual target of Rs 1650 billion for the current Fiscal Year, 2024-25, which will promote the saving culture in the country.
Additionally, the CDNS has allocated a specific target of Rs 170 billion for investments in Islamic finance this fiscal year to foster growth in the country’s Islamic economy.
Reflecting on past performance, the official stated that CDNS surpassed its annual target for FY 2023-24 by collecting Rs 1.742 trillion in fresh bonds, exceeding 100% of its Rs 1.7 trillion goal.
Similarly, in FY 2022-23, CDNS achieved Rs 1.6 trillion in fresh bonds, surpassing the Rs 1.3 trillion target by an additional Rs 200 billion. For FY 2021-22, the savings target was revised to Rs 1.4 trillion to adapt to market trends and further promote a savings culture.
To improve efficiency and customer convenience, the CDNS has introduced Automated Teller Machine (ATM) services as part of its institutional reforms. The official highlighted that these measures aim to modernize operations and provide enhanced services to account holders.
In the Islamic finance sector, CDNS has set an investment target of Rs 75 billion. The directorate is committed to expanding its offerings in this segment, recognizing the vital role Islamic finance plays in the global financial system. “Islamic finance is a growing sector, contributing significantly to the economies of many major countries,” the official noted.
The CDNS continues to align its initiatives with national economic goals, leveraging its track record of exceeding targets to build a robust savings framework in Pakistan.
