Sharia based investment certificates to be launched soon – Zafar Masud DG

News Image

MG News | December 04, 2017 at 11:54 AM GMT+05:00

0:00

National Savings would be soon launch Sharia Complaint products post formal approvals from the Finance Division and the Federal Cabinet, to cater the needs of local population who mostly shied away from the conventional investment system.

Zafar Masud, director general of Central Directorate of National Savings told Mettis Link from Islamabad that spade work to launch the Shariah Complaint products have been completed and the Ministry of Finance has already green signal, whereby made an appointment  of Dar Al Sharia Islamic Finance Consultancy to work as Sharia Advisor.

Zafar Masud said that National Savings would establish an Islamic window to be named as Rafa National Savings which would able to offer Sharia compliant saving products and services.

Rafa National Savings will have a dedicated Sharia Board, comprising of local and international scholars.

“With the successful launch of the Rafa National Savings, CDNS will be able to promote Sharia complaint savings and provide an avenue of financial inclusion to investors that only invest in accordance with the principles of Sharia” Director General explained.

Currently CDNS has a massive portfolio of over 3.5 trillion rupees with more than seven million customers.

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 19, 2025 at 04:28 PM GMT+05:00

4.7m families get BISP aid in Punjab


July 19, 2025 at 03:00 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


July 19, 2025 at 02:49 PM GMT+05:00

RDA attracts $182m in June


July 19, 2025 at 02:49 PM GMT+05:00

M2 falls by Rs455bn in a week



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg