CDNS Attains Rs210 Billion Targets In Fresh Bonds
Muhammad Irfan Published September 01, 2023 | 01:30 PM
ISLAMABAD, Sep 1 (UrduPoint / Pakistan Point News - 1st Sep, 2023 ) :The Central Directorate of National Savings (CDNS) has attained target of Rs210 billion in fresh bonds in the current fiscal year, from July 1st to August 31th, 2023-24.
The Central Directorate of National Savings (CDNS) surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the current fiscal year from July 1st to June 30th, 2022-23, the senior official of CDNS told APP here on Friday.
This is Rs 200 billion additional annual target than the target of Rs1300 billion for the previous financial year 2021-22, he said.
"The CDNS has set a reviewed saving target of Rs 1.4 trillion for the current financial year (2021-22) which will "promote the 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 at present, work was being done on institutional reforms in CDNS and new reforms and innovations were being introduced.
"He said, "At this time Automated Teller Machine (ATM) has also been introduced in CDNS which will provide enough facilities to the users." Replying to a question, he said the CDNS has collected an investment of Rs16 billion in the month of July 2023-24 through Islamic investment bonds.
The directorate has set a target of Rs 75 billion for the new financial year 2023-24 for Islamic finance bonds, he said.
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 said.
Recent Stories
Mayor seeks proposals from town chairmen for OZT
Balighur Rehman condoles with Saira Afzal Tarar
Intermittent rains, snow falls paralyze normal life in AJK
NICVD world’s largest cardiac healthcare network: Prof Tahir claims
Significance of Indus river highlighted by civil society members
Digitalized medicine purchasing system launched to ensure transparency
DC visits water supply schemes, drainage disposal in Nawabshah
Philips settles US sleep machine cases for $1.1 billion
Provincial capital experiences heavy to moderate rainfall
Amir Muqam calls for performance over politics, criticizes opposition tactics
New leadership elected for Tehsil Babuzai Chapter of ANP
Awareness, institutional mechanisms termed ‘inevitable’ for combating harass ..
More Stories From Business
-
Philips settles US sleep machine cases for $1.1 billion
2 minutes ago -
G7 eyes possible end date for coal-fired power plants
2 minutes ago -
Continuing tight monetary stance SBP maintains policy rate at 22%
1 hour ago -
BankIslami achieves remarkable financial results of Rs 6.3 Billion
1 hour ago -
FM Dar meets Saudi Energy Minister
1 hour ago -
Punjab to unveil comprehensive initiatives in upcoming budget: Minister
1 hour ago
-
Agri experts stress quality seed at farm level to overcome food insecurity
1 hour ago -
US stocks rise on tech outlook as yen rebounds
1 hour ago -
PSMA refutes news about ban on sugar export
57 minutes ago -
SBP decides to keep policy rate unchanged at 22 per cent
2 hours ago -
Cheema for tapping Pakistan-Kazakhstan trade potential
2 hours ago -
Poland can help Pakistan combat climate change challenges: Ambassador
4 hours ago