CDNS aims to mobilize Rs 60bn through Islamic bonds in FY27

ISLAMABAD, Sep 18 (APP):The Central Directorate of National Savings (CDNS) has set a target of Rs60 billion for mobilization through Islamic finance bonds during fiscal year 2026-27, as it moves to further expand Shariah-compliant investment products in the country.

The target has been set after the CDNS mobilized Rs61 billion through Islamic investment products in the first 11 months of FY2025-26, against the annual target of Rs55 billion.

A senior CDNS official said the higher mobilization reflected increasing demand for interest-free investment options among individual and institutional investors.

The official said the CDNS had given greater attention to Islamic finance during the current fiscal year, with the response from investors encouraging the institution to further expand its Shariah-compliant offerings.

Islamic bonds and Shariah-compliant savings certificates have emerged as important components of the CDNS’s Islamic investment portfolio, providing investors with avenues consistent with Islamic principles and helping channel domestic savings into economic activity.

The CDNS mobilized Rs24 billion through Islamic investments during FY2024-25, while nearly Rs75 billion was raised through Islamic bonds in FY2023-24.

Officials said the institution was also pursuing reforms aimed at improving access to Islamic investment products, including digital transformation, enhanced customer services and the introduction of new savings instruments.

The measures are aimed at making investment in Shariah-compliant products more convenient while encouraging wider participation in Islamic savings schemes.

The CDNS expects continued expansion of Islamic finance to support the development of Pakistan’s Islamic economy and contribute to broader financial inclusion and sustainable economic growth.