CDNS achieves Rs1,200bn target in fresh bonds in ongoing fiscal year

March 25, 2024 (MLN): The Central Directorate of National Savings (CDNS) has attained a target of Rs1,200 billion in fresh bonds in the current fiscal year, from July 01 to March 21, 2024.

The CDNS surpassed the annual target and achieved the target of Rs1.6 trillion in fresh bonds in the current fiscal year, the senior official of CDNS told APP on Monday.

He said this was an additional Rs200bn annual target than the target of Rs1,300bn 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. 

Given the current market trend in the country, the ambitious target had been set to improve the savings culture further, he added.

The official 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 further noted. 

Replying to a question, he said the CDNS had collected an investment of Rs60bn by March 15, 2024, through Islamic investment bonds. 

The official further stated that the directorate had set a target of Rs75bn for the new FY24 for Islamic finance bonds.

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