CDNS Achieves Rs 515 Billion Targets In Fresh Bond
Sumaira FH Published November 16, 2023 | 01:30 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Nov, 2023) The Central Directorate of National Savings (CDNS) has achieved a target of Rs 515 billion in fresh bonds in the current fiscal year, from July 1 to 15th November September.
The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the current fiscal year, the senior official of CDNS told APP here on Thursday.
He said this was Rs 200 billion additional annual targets than the target of Rs 1300 billion for the previous financial year 2021-22.
"The CDNS has set a reviewed saving target of Rs 1.4 trillion for the current financial year (2021-22) which will promote savings culture in the country," he said.
In view of the current market trend in the country, the ambitious target had been set to further improve the savings culture, he said.
He said that work was being done on institutional reforms in CDNS and new reforms and innovations were being introduced.
"At this time Automated Teller Machine (ATM) has also been introduced in CDNS which will provide enough facilities to the users," he added.
Replying to a question, he said the CDNS had collected an investment of Rs 16 billion in the month of July 2023-24,through Islamic investment bonds. He added that the directorate has set a target of Rs 75 billion for the new financial year 2023-24 for Islamic finance bonds.
Replying to a question, he said the CDNS's aim was to introduce new dimensions in the Islamic finance sector.
He informed that CDNS had reviewed and set a target of Rs 60 billion in the fiscal year (2022-23) for Islamic investment to introduce the new products in the market.
"Islamic finance has a very important role in the global financial sector at this time, and a large part of the economy of many major countries currently includes Islamic finance," he added.
Recent Stories
Four terrorists involved in suicide attack on Chinese in Besham arrested
SIC chief asks PTI leaders to resign from assemblies
Pakistan working tirelessly to eradicate polio from country: PM
IHC Justice Sattar dismisses pleas moved by FIA, PEMRA and PTA in audio leaks ca ..
Gillespie, Kirsten feature in 48th edition of PCB Podcast
Security forces kill four terrorists in Tank
Fake immoral video of Ducky Bhai's wife goes on viral on social media
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 April 2024
Today Gold Rate in Pakistan 29 April 2024
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 April 2024
Today Gold Rate in Pakistan 28 April 2024
Fresh wave of rainfall in AJK continues for the second consecutive day
More Stories From Business
-
Pakistan's envoy to Iran visit FPCCI
11 minutes ago -
Business community commends PM initiatives of economic betterment
40 minutes ago -
RTO Peshawar surpasses revenue target of third quarter
40 minutes ago -
Gold rates decrease by Rs 500 per tola to Rs 243,900
50 minutes ago -
KPT shipping movements report
2 hours ago -
'EPD to be digitalized for transparent monitoring of industrial units'
2 hours ago
-
Efforts afoot to uplift livestock sector by improving vaccination, control diseases
2 hours ago -
China's cultural sector continues to pick up in Q1
3 hours ago -
Europe's natural gas production falls 8.2% in 2023
3 hours ago -
South Africa calls on Turkish business world to strengthen trade, investment ties
3 hours ago -
Chinese shares close higher Monday
4 hours ago -
Türkiye's economic confidence slightly down in April
4 hours ago