February 08, 2023 (MLN): The Central Directorate of National Savings (CDNS) in Pakistan has successfully met its target of issuing Rs800 billion in fresh bonds for the current fiscal year 2022-23, covering the period from July 1 to February 6.
CDNS has also set a new target of Rs1.3 trillion in savings for the same fiscal year, with the aim of promoting the savings culture in the country.
This new target follows the successful surpassing of the annual target in the previous fiscal year, in which the CDNS achieved a historic record of Rs1.25bn in savings by June 30, 2022.
In addition, the senior official of CDNS has revealed that the institution has set a target of Rs60bn for Islamic investment in FY23 in order to introduce new investment products in the market.
CDNS has taken steps to modernize its operations by digitizing National Savings Certificates (NSCs), to provide increased convenience to its consumers.
The CDNS and the Central Depository Company of Pakistan Limited (CDCP) have entered into an agreement to launch a pilot project for the digitization and dematerialization of NSCs, which is expected to boost investment in National Savings and increase consumer confidence.
This agreement between National Savings and CDCP is part of the institution's ongoing efforts to automate and digitize its operations.
