CDNS achieve Rs1100 billion through fresh bonds by June 15th.

ISLAMABAD -- Central Directorate of National Savings (CDNS) on Tuesday attained the target of issuing Rs1100 billion fresh bonds in the last 11 months of current fiscal year 2021-22, from July 1st to June 15, 2022.

Central Directorate of National Savings has collected recorded Rs 1100 billion this time by the mid of last months of current FY 2021-22, the senior official of CDNS told REPORTER here.

CDNS had set an annual gross receipt target of Rs 980 billion from July 1 to June 30 of the previous fiscal year 2020-21 to promote savings in the country.

The senior official said the CDNS had set Rs 250 billion annual collection target from July 1 to June 30 for the year 2020-2021 as compared to Rs 352 billion for the previous year (2019-20) for the same time span to enhance savings in the country.

CDNS had set Rs 352 billion annual collection target for the year 2019-20 as compared to Rs 350 billion for the previous year (2018-19), he said.

Replying to a question, he said the CDNS has decided to start Islamic finance and will start implementing its procedural work from next month to provide the facility of Islamic finance in the institution.

In this regard, under Islamic Sharia Compliance, Prize Bonds and Savings Certificates will be issued for investment in accordance with Sharia Principles, he said.

CDNS will provide Islamic investment opportunities to its consumers in an institution like the rest of the private and public sector banking, where Islamic sharia business has now reached 20 percent.

Replying to another question, the senior official said that (CDNS) has started working to increase new investment opportunities and promote digital investment through many new projects.

CDNS in collaboration with State Bank of Pakistan is developing digital Prize Bonds, which will be available through...