ISLAMABAD: The Central Directorate of National Savings (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.
Similarly, CDNS has set an Islamic finance investment target of Rs 170 billion for the current fiscal year, which will lead to the growth of Islamic economy in the country.
Responding to a question, 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 we have “exceeded 100 percent of the annual goal” this year.
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.
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 further improve the savings culture.
The official said that institutional reforms are being worked on in the CDNS and new reforms and innovations are being introduced. Currently, CDNS also has an automated teller machine (ATM), which will provide users with sufficient facilities,” he added.
The answer to the question; said CDNS aims to introduce new dimensions in the Islamic financial sector. Islamic finance currently has a very important role in the global financial sector and a large part of the economy of many major countries now includes Islamic finance,” he added.
