ISLAMABAD: The National Savings Bank has reached its new bond target of $1.375 billion, achieving 80 percent of the annual plan from July 1 to April 25 this fiscal year.
National Savings has set an annual target of $1.742 billion for 2023-24, driving the achievement of 80 percent of the target, and National Savings is expected to exceed its annual target in FY2023. 24, a senior CDNS official told APP on Monday.
CDNS exceeded its annual target, with $1.6 trillion in new bonds this fiscal year.
He said this is $200 billion annually, up from $1,300 billion for the 2021-22 fiscal year.
“CDNS set savings target of $1.4 trillion this financial year (2021-22), which will promote savings culture in country,” he said.
He said, from the current market trends in the country, there is an ambitious goal to further improve the savings culture.
Officials said institutional reforms are underway in CDNS and new reforms and innovations are being introduced.
“Now, CDNS has introduced automated teller machines (ATMs) that provide a pleasant environment for users.”
The official said the department has set a target of $75 billion for Islamic finance bonds for the new financial year 2023-24.
Answer questions; He said, CDNS aims to introduce new benchmarks in the field of sharia finance.
“Today, Islamic finance plays an important role in the global financial sector, and today a large part of the economy of many countries includes Islamic finance.”
