The Central Directorate of National Savings (CDNS) has achieved the annual collection target of Rs 24 billion in investment in Islamic finance during the last days of the fourth quarter of the Current Fiscal Year, 2024-25.
\nThe CDNS has revived the annual collection target of investment in Islamic finance for the Current Fiscal Year 2024-25, which will lead to growth in the country\u2019s Islamic economy.
\n\u201cThe National Savings had issued the Islamic bonds for the promotion of the Islamic finance system, which will help the development of the Islamic economy in the country,\u201d a senior official of CDNS told APP here Sunday.
\nReplying to a question, he said the CDNS had achieved the target of Rs 75 billion during the last fiscal year (2023-24) from the Islamic bonds, and that was why it aimed to introduce new dimensions in the Islamic finance sector.
\n\u201cIslamic finance now has a significant role in the global financial sector.
\nA large part of the economy of many major countries currently includes Islamic finance,\u201d he added. The official said that work was being done on institutional reforms in the CDNS.
\nGiven the current market trend in the country, an ambitious target had been set to improve the savings culture further, he added.
\nReplying to another question, he said that the CDNS had set an annual target of Rs 1650 billion for the current Fiscal Year, 2024-25, which would promote the saving culture in the country.
\nHe said that the CDNS has realized a target of Rs1.742 trillion in fresh bonds and exceeded 100 percent of the annual target in the last fiscal year 2023-24, from July 1 to June 30th.
\nThe National Savings has set an annual target of Rs 1.7 trillion for the year 2023-24; it is encouraging that this year, \u201cWe surpassed 100 percent of the annual target.\u201d
\nThe CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the previous fiscal year 2022-23, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Central Directorate of National Savings (CDNS) has achieved the annual collection target of Rs 24 billion in investment in Islamic finance during the last days of the fourth quarter of the Current Fiscal Year, 2024-25. The CDNS has revived the annual collection target of investment in Islamic finance for the Current Fiscal Year 2024-25, …<\/p>\n","protected":false},"author":4,"featured_media":82692,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-82663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/82663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=82663"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/82663\/revisions"}],"predecessor-version":[{"id":82693,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/82663\/revisions\/82693"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/82692"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=82663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=82663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=82663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}