CDNS Introduces ATM Through Reformer In Institution

ISLAMABAD, (UrduPoint / Pakistan Point News - 23rd Oct, 2023) The Central Directorate of National Savings (CDNS) has introduced an Automated Teller Machine (ATM) through its reformer in the institution, which will also provide a banking facility to the customers.

The Automated Teller Machine (ATM) had also been introduced in CDNS which would provide enough facilities to the users and introduce innovation to the organization, the senior official of CDNS told APP here on Monday.

In this way, the CDNS introduced new reforms in the Institution by digitizing all its branches, he said.

The senior official of CDNS said that work was being done on institutional reforms in CDNS and new reforms and innovations were being introduced.

"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.

In view of the current market trend in the country, the ambitious target had been set to further improve the savings culture, he said.

Replying to a question, he said CDNS had achieved a target of Rs 430 billion in fresh bonds in the current fiscal year, from July 1 to October 20.

The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the current fiscal year.

He said this was an Rs 200 billion additional annual target 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.

Replying to another 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 had set a target of Rs 75 billion for the new financial year 2023-24 for Islamic finance bonds.

Replying to another 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.