By August 31, CDNS had raised Rs 220 billion through new bonds.
In order to meet its goal of issuing Rs 220 billion in new bonds during the current fiscal year 2022–23, which runs from July 1–August 31, 2022, the Central Directorate of National Savings (CDNS) collected the amount on Monday.
According to a senior CDNS official who spoke to the media here, the CDNS has set a savings goal of Rs. 1.5 trillion for the current fiscal year (2022-23) that will encourage the country’s saving culture. He stated that the country’s current market trend and an ambitious goal have been established to further enhance the savings culture.
In response to a query, he noted that the CDNS had surpassed its yearly goal in the previous fiscal year 2021–2022 and had achieved historic savings of Rs. 1,250 billion up till June 30, 2022. First time ever in its history,By June 30, 2022, CDNS had surpassed Rs 1,000 billion in new deposits and had reached its goal of Rs 1, 250 billion.
According to him, the CDNS has met its goal of issuing Rs. 1,250 billion in new bonds between July 1, 2021, and June 30, 2022. In order to encourage saving throughout the nation, it had set a fiscal year 2020–21 objective of Rs980 billion in annual gross receipts. In order to increase savings in the nation, the senior official stated that the CDNS has set a Rs250 billion annual collection target from July 1 to June 30 for the year 2020–2021 as opposed to Rs352 billion for the year 2018–19 over the same time.
According to him, the CDNS had set a target annual collection goal of Rs352 billion for the 2019–20 fiscal year as opposed to Rs350 billion for the last fiscal year (2018–19). In response to a query, he stated that the National Directorate of National Savings (CDNS) had examined the situation and set a target of Rs. 60 billion for Islamic investment in the Fiscal Year (2022-23) in order to launch the new products on the market.
According to him, CDNS would reach its $60 billion investment goal in the current fiscal year. Additionally, he mentioned that the CDNS had entered the market for Islamic finance in August 2022 and was now providing Islamic finance to its clients. In order to give its consumers possibilities in Islamic finance, he said, National Savings would work on Islamic Sharia bonds and certificates.
