CDNS achieves Rs850bn in fresh bonds, meets 51% of annual target

February 24, 2025 (MLN): The Central Directorate of National Savings (CDNS) has achieved a target of Rs850 billion in fresh bonds and achieved 51% of the annual target for the ongoing second half of the current fiscal year, from July 1, 2024, to February 20th, 2025.

The senior official of CDNS told APP on Monday that the CDNS has set an annual target of Rs1.65 trillion for the current Fiscal Year, 2024-25, which will promote the country's saving culture.

Similarly, the CDNS has set a target of Rs170bn in investment in Islamic finance for the current fiscal year, which will lead to the growth of the Islamic economy in the country, according to the press release issued.

Replying to a question, he said that the CDNS has realized a target of Rs1.7tr in fresh bonds and exceeded 100% of the annual target in the last fiscal year 2023-24, from July 1 to June 30.

The CDNS surpassed the annual target and achieved the target of Rs1.6tr in fresh bonds in the previous fiscal year 2022-23, he said.

He said it was an Rs200bn additional annual target than the target of Rs1.3tr for the previous financial year 2021-22.

The CDNS has set a reviewed saving target of Rs1.4tr for the financial year (2021-22) which will promote a savings culture in the country, he said, adding that given the current market trend in the country, the ambitious target had been set to further improve the savings culture.

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 added.

The official said that the directorate had set a target of Rs75bn for the new financial year 2023-24 for Islamic finance bonds.

Replying to a question; he said the CDNS aimed to introduce new dimensions in the Islamic finance sector.

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.

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