Pakistan finalises launch of Digital Prize Bonds
National Savings completes preparations for paperless prize bonds with direct credit of winnings and enhanced digital services
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Tag: National Saving Schemes
CDNS Reduces Interest Rates on Key Savings Schemes
Islamabad, May 14, 2024 – The Central Directorate of National Savings (CDNS) has implemented adjustments to the interest rates on several significant savings schemes, with some witnessing reductions while others experience increases.
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CDNS Adjusts Profit Rates of Saving Schemes for March 2024
Karachi, March 23, 2024 – The Central Directorate of National Savings (CDNS) has announced adjustments to the profit rates across various saving schemes, aiming to align them with prevailing economic trends and monetary policy objectives.
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Investment in Saving Certificates Drops by 12% in Pakistan
Karachi, March 11, 2024 – Pakistan has witnessed a substantial decline of 12 percent in investment in saving certificates during February 2024, compared to the same month a year ago, according to official statistics released by the State Bank of Pakistan (SBP).
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Pakistan Sharply Cuts Interest Rates on Saving Schemes
Karachi, December 20, 2023 – Pakistan has implemented substantial cuts to the interest rates on saving schemes, despite maintaining a higher benchmark policy rate.
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National Saving Schemes facilitation portal launched
KARACHI: The State Bank of Pakistan (SBP) has launched a portal in order to facilitate investors of national savings schemes. The SBP highlighted that Special Savings Certificates (SSCs) with a (maturity period of three years) was launched on February 4, 1990 that offers a unique investment opportunity for small and medium savers to meet their […]
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NSS: tax rate at 10% on profit subject to furnishing certificate
ISLAMABAD: Persons deriving profit less than Rs500,000 on national saving schemes are required to provide a certificate in order to get reduced income tax rate at 10 percent, official sources said.
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Banks directed to apply AML/CFT rules on issuance of saving certificates
KARACHI: State Bank of Pakistan (SBP) on Thursday directed banks to implement anti-money laundering (AML) and Counter Financing for Terrorism (CFT) rules related to issuance of National Saving Schemes (NSS). The SBP said that commercial banks are performing functions of sale, encashment, profit payment etc. of various NSS such as prize bonds, SSC and DSC. […]
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SBP asks banks not to accept institutional investment in saving schemes
KARACHI: State Bank of Pakistan (SBP) on Thursday informed banks about restriction imposed on institutional investment in saving schemes. The central bank said that the Central Directorate of National Savings (CDNS) on July 01, 2020 restricted participation of institutional investors in national saving schemes. In this connection, the SBP advised all authorized commercial banks to […]
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Explaining source of income, annual income made mandatory for NSS investors
ISLAMABAD: The government has made mandatory for investors of National Saving Schemes (NSS) to explain source of income and annual income. The government has notified National Savings Schemes (AML and CFT) Rules, 2019 in order to comply with recommendations of Financial Action Task Force (FATF). Previously, the draft of rules was notified on December 19, […]
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