ISLAMABAD: The Central Directorate of National Savings (CDNS) has set a target of investing Rs 170 billion in Islamic finance for the current fiscal year, which will lead to the growth of Islamic economy in the country.
Responding to a question, he said that CDNS had achieved a target of Rs 75 billion during the last fiscal year (2023-24) from Islamic bonds and therefore focused on introducing new dimensions in the Islamic finance sector.
A large part of the economy of many major countries now includes Islamic finance, he added.
The official said institutional reforms are being worked on in the CDNS.
Answering another question, he said that 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.
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.
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.
Currently, an automated teller machine (ATM) has also been introduced in CDNS, which will provide enough facilities to users,” he added.
