Pakistan’s Central Directorate of National Savings to Offer Islamic Investment Opportunities

Pakistan’s Central Directorate of National Savings (CDNS) has announced its intentions to begin offering Islamic finance facilities and aims to start the implementation of its procedural work as of May 2022.

Why it Matters?

Islamic Shariah business currently makes up 20% of the private and public banking sector in Pakistan. Through this initiative, the CDNS will provide Islamic investment opportunities to its consumers and accordingly, Prize Bonds and Savings Certificates will be issued for investment in accordance with Shariah principles.

Details

CDNS is working to promote digital investment through many new projects, including a collaboration with the State Bank of Pakistan to provide digital Prize Bonds throug...