ISLAMABAD: The Central Directorate of National Savings collected an investment of 15 billion rupees through Islamic investment bonds last month.
The directorate has set a target of 75 billion rupees for the new fiscal year 2023-24 for Islamic finance bonds, APP reported.
Replying to a question, a senior official of the Central Directorate of National Savings said that the CDNS’s aim was to bring new dimensions to the Islamic finance sector.
He said that CDNS had reviewed and set a target of 60 billion rupees in the financial year (2022-23) for Islamic investment to present new products in the market.]
Islamic Finance in Global Financial Sector
The official said that Islamic finance has a key role in the global financial sector, and a large part of the economy of many big countries currently includes Islamic finance.
Replying to another query, he said the CDNS had set a target of 1743 billion rupees for the current Financial Year to promote the saving culture in Pakistan. This is 443 billion rupees additional annual target than the target of 1300 billion rupees for the previous fiscal year 2022-23.
He further said that the CDNS achieved the target of issuing 1.48 trillion rupees in fresh bonds in the ongoing financial year.
He said that the Automated Teller Machine (ATM) has also been introduced in CDNS which will provide enough facilities to the users.” – APP
