CDNS Surpasses Rs950 Billion Target, Achieves Remarkable Rs1.6 Trillion in Bond Sales

The Central Directorate of National Savings (CDNS) has successfully achieved its target of Rs950 billion in fresh bond sales for the current fiscal year, spanning from July 01 to December 31, 2023, according to a report by APP.

Going beyond the annual goal, CDNS proudly accomplished the milestone of Rs1.6 trillion in fresh bonds during the current fiscal year, as disclosed by a senior CDNS official to APP on Wednesday.

This impressive achievement surpassed the previous fiscal year's target of Rs1.3 trillion by an additional Rs200 billion, showcasing the organization's commitment to financial excellence.

In response to prevailing market dynamics, the ambitious target was set to further enhance the savings culture, as the official emphasized.

The CDNS is actively engaged in instituting reforms, with a focus on institutional changes and the introduction of new innovations. Notably, the recent inclusion of an Automated Teller Machine (ATM) in CDNS aims to provide enhanced facilities to users.

Addressing inquiries about their Islamic investment bonds, the official mentioned that the CDNS had successfully gathered Rs50 billion in investments by December 31, 2023-24.

Looking ahead, the directorate has established a target of Rs75 billion for Islamic finance bonds in the new financial year, signaling a continued emphasis on Islamic finance.

Responding to queries, the official expressed the CDNS's ambition to introduce new dimensions to the Islamic finance sector, acknowledging its crucial role in the global financial landscape. He highlighted the organization's proactive stance by revealing that, in the fiscal year 2022-23, a target of Rs60 billion was set for Islamic investment to introduce innovative products into the market.