National Savings has launched Shariah-compliant products for investors. These will be in the form of savings and 1, 3, and 5-year term accounts

In the recent news, the Central Directorate of National Savings has announced the launch of a new mobile app for the government entity. The Director-General of National Savings, Hamid Raza Khalid tweeted a guessing game post for the new mobile app of National Savings stating, “Time to be “creative” and win a gift hamper… @savingsgovpk. #MobileApp #CDNS #NationalSavings #Convenience #BCreative.” 

Hamid Raza Khalid Asked Twitter Users to Guess the Name of the New Mobile App

The said tweet was asking Pakistani Twitter users to guess the name of the new CDNS mobile app’s name. To this intriguing tweet, several Twitter users responded with different names for the new mobile app of CDNS. 

Later on, the director-general also posted a video showing the services that CDNS offers and what is to come next, suggesting the new mobile app. He tweeted, “CDNS is committed to improve it customer services and be a preferred financial institution for all. They journey continues… Stay tuned for our first & basic version of the most demanded Mobile App… @savingsgovpk. #Digitization #ServiceDelivery #NationalSavings.”

Government Has Increased the Profit Rates on All National Savings Schemes 

In addition to the new mobile app, the government has revised upward profit rates on all national savings schemes and certificates of the Central Directorate of National Savings. According to several reports issued by the finance ministry, the rates were modified in the range of 36 to 150 basis points. The rate of return on Regular Income Certificates was increased by 36 basis points to 12.36pc from 12pc; 150bps to 12.25pc from 10.75pc on the savings accounts; and 60bps to 13pc from 12.40pc on special savings.

Read more: WASA Rolls Out a New Mobile App to Facilitate Citizens With Online Payments

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