May 2

What is last date for redemption of Rs40,000 prize bonds

ISLAMABAD: Regulators are at odds over the last date for conversion/redemption of Rs40,000 denomination national prize bonds, which created distress amongst the prize bondholders. A public notice was issued by the Central Directorate of National Savings (CDNS) in February 2021, that the government had discontinued the sale of National Prize Bonds (Bearer) of Rs25,000 and […]

by Mrs. Anjum Shahnawaz

Jul 2

Finance

National Savings raises profit rates

ISLAMABAD: The Central Directorate of National Savings (CDNS) on Thursday raised profit rates of saving schemes. A statement issued by the CDNS stated that all the profit rates of bearer certificates had been increased. However, profit rates of registered saving certificates have been reduced. As per the decision of the CDNS the profit rates have […]

by Mrs. Anjum Shahnawaz

Interest rates on saving certificates slashed up to 100 basis points

Jun 3

Finance

Interest rates on saving certificates slashed up to 100 basis points

ISLAMABAD: The profit rate on saving certificates have been reduced up to 100 basis points due to sharp cut in key policy rate by the State Bank of Pakistan (SBP). The new rate of return on national saving certificates are applicable from June 02, 2020. According to Central Directorate of National Savings (CDNS), the interest […]

by Mrs. Anjum Shahnawaz

Biometric verification of all saving scheme investors to be conducted under FATF recommendations

Jan 18

Finance

Biometric verification of all saving scheme investors to be conducted under FATF recommendations

ISLAMABAD: The government will conduct biometric verification of all investors of National Saving Schemes in order to make compliance with recommendations of Financial Action Task Force (FATF), a statement issued by Finance Division said on Saturday. Asia Pacific Group in its recently published Mutual Evaluation Report (MER 2019), has pointed out number of deficiencies on […]

by Mrs. Anjum Shahnawaz

Law drafted to examine national saving schemes investments for money laundering, terror financing

Dec 19

Money & Banking

Law drafted to examine national saving schemes investments for money laundering, terror financing

ISLAMABAD: The government has draft law to examine involvement of money laundering and terror financing in investment made in national saving schemes. The ministry of finance on Thursday issued draft rules namely National Saving Schemes (AML and CFT) Rules, 2019. Under the draft rules, the Central Directorate of National Savings (CDNS) would conduct customers due […]

by Mrs. Anjum Shahnawaz

CDNS decides screening all customers of national saving schemes

Dec 15

Finance

CDNS decides screening all customers of national saving schemes

ISLAMABAD: The government has decided to check involvement of money laundering and terror financing in national saving schemes as per recommendations of Financial Action Task Force (FATF). In this regard, the Central Directorate of National Savings (CDNS) intends to hire the services of a commercial bank regulated by State Bank of Pakistan (SBP) for conducting […]

by Mrs. Anjum Shahnawaz

Bearer prize bonds of Rs40,000 worth Rs233 billion documented

Dec 5

Money & Banking

Bearer prize bonds of Rs40,000 worth Rs233 billion documented

KARACHI: People have documented an amount of Rs233 billion invested in bearer prize bonds of Rs40,000 denominations following the government announcement of discontinuation. According to statistics of Central Directorate of National Savings (CDNS) people have Rs323 billion bearer bonds of Rs40,000 denomination by October 2019, which is around 90 percent of the total invested amount […]

by Mrs. Anjum Shahnawaz

Investment in premium prize bonds surges by 157 percent

Nov 6

Finance

Investment in premium prize bonds surges by 157 percent

KARACHI: The investment in premium prize bonds of Rs40,000 denomination has witnessed unprecedented growth of 157 percent after the government announcement to discontinue bearer prize bonds of same denomination. According to official documents, the investment in premium prize bonds of Rs40,000 denomination surged by 157 percent to Rs15.86 billion by September 2019 as compared with […]

by Mrs. Anjum Shahnawaz

Nov 6

Finance

Profit rates on saving schemes reduced

KARACHI: The government has reduced the profit rates on saving certificates effect from November 01, 2019. According to notifications issued by Central Directorate of National Savings (CDNS) on Tuesday, the profit rate on Defence Saving Certificate reduced by 2.33 percent to 10.68 percent. The profit rate on Pension Behbood has been slashed by 2.28 percent […]

by Mrs. Anjum Shahnawaz

Investment into premium prize bonds post 46pc growth

Aug 13

Exclusive, Finance

Investment into premium prize bonds post 46pc growth

KARACHI: The investment in premium prize bonds of Rs40,000 denomination has increased by over 46 percent as the government stopped the circulation of bearer bonds of same denomination and launched campaign to document the economy. According to statistics released by State Bank of Pakistan (SBP) the total investment into premium prize bonds of Rs40,000 denomination […]

by Mrs. Anjum Shahnawaz