Shariah-compliant investment certificates to be launched soon: Zafar Masud
ISLAMABAD, (MILLAT ONLINE):National Savings would soon launch Shariah-compliant products to cater the needs of local population who
generally do not opt for conventional investment.
Talking to a private news channel, Director General of Central Directorate of National Savings Zafar
Masud said that spade work to launch the Shariah-complaint products have been completed and the Ministry
of Finance has already given green signal, whereby an appointment of Dar Al Sharia Islamic Finance
Consultancy has been made to work as Sharia Advisor.
Zafar Masud said that National Savings would establish an Islamic window to be named as Rafa
National Savings which would able to offer Sharia-compliant saving products and services.
Rafa National Savings will have a dedicated Sharia Board, comprising of local and international
scholars, he added.
“With the successful launch of the Rafa National Savings, CDNS will be able to promote
Sharia-complaint savings and provide an avenue of financial inclusion to investors that only invest in
accordance with the principles of Shariah,” he added.
“Currently, CDNS has a massive portfolio of over 3.5 trillion rupees with more than seven million
customers,” he said.