- Advertisement -
ISLAMABAD, Oct 27 (APP):The Central Directorate of National Savings (CDNS) has attained the annual target of Rs 11 billion in investment in Islamic finance from July 1st to October 20th in Current Fiscal Year, 2025-26.
The CDNS has already set annual target of Rs 25 billion for Current FY, 2025-26 for promoting Islamic finance in the country, a senior official of CDNS told APP here Monday.
He said the CDNS has achieved the annual collection target of Rs 24 billion in investment in Islamic finance during the Previous, FY, 2024 -25.
The CDNS has revived the annual collection target of investment in Islamic finance for the Current FY, 2025-26, which will lead to growth in the country’s Islamic economy.
“The 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,” he said.
Replying 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.
“Islamic finance now has a significant role in the global financial sector.”
A large part of the economy of many major countries currently includes Islamic finance,” he added. The official said that work was being done on institutional reforms in the CDNS.
“Islamic finance now has a significant role in the global financial sector. A large part of the economy of many major countries currently includes Islamic finance,” he added. The official said that work was being done on institutional reforms in the CDNS.
Given the current market trend in the country, an ambitious target had been set to improve the savings culture further, he added.
Replying to another question, he said the CDNS has accomplished a target of Rs 400 billion in savings inflows of the annual target for the current fiscal year, from July 1 to September 15th, 2025.
The CDNS has set a savings inflows target of Rs 1.3 trillion for the current Fiscal Year, 2025-26.