Islamabad: The Central Directorate of National Savings (CDNS) has reached the target of $1.515 trillion in new bonds, reaching 85 percent of the annual target between July 1 and May 26 this fiscal.
National Savings has set an annual target of $1.742 trillion for 2023-24, encouraging that 85 percent of this target has been achieved and National Savings is expected to exceed the 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 an additional target of $200 billion for 2021-22, up from $1,300 billion last fiscal year. CDNS has set a savings target of $1.4 trillion for the financial year (2021-22) which will foster a culture of savings in the country, he said.
Officials said institutional reforms are underway in CDNS and new reforms and innovations are being introduced. Today, CDNS has introduced automated teller machines (ATMs), which provide enough convenience to users,” he said.
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 standards in the field of sharia finance.
“Islamic finance plays an important role in the global financial sector today, and most of the economies of large countries now include Islamic finance,” he said.
