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National Savings Karachi celebrates World Savings Day

Karachi: National Savings Karachi celebrated World Savings Day-2017 to create awareness of importance of savings. World Savings Day is celebrated across the globe on 31M October. National Savings being proud member of World Savings Banks institutes (VVSB1) celebrates this very day every year. Regional Directorate of National Savings Karachi has organized a seminar on Role of National Savings in promotion of Savings, financial inclusion and social security at Institute of Bankers Pakistan (IBP) auditorium. The seminar was attended by Mr. Zafar Masud, Director General National Saving. The other keynote speakers were Mr. lfran Siddiqui, President, Meezan Bank, Mr. Hasan A Bilgrami, CEO, Bank Island Pakistan, Dr. Farrukh Iqbal, Director, I BA, Karachi, Mr. Aftab Diwan, CEO, CDC and Mr. Shahnawaz Nadir Shah Chief Investment Specialist, Government of Sindh.
Mr. Zafar Masud, DG, National Savings apprised the participants of seminar that National Savings is an attached Department of Ministry of Finance, mandated to promote savings among the masses and facilitate Financial Inclusion. This institution having rich history of 144 years has been preferred avenue of investment for every segment of society ranging from students to senior citizens, widows and Pensioners. This is evident from fact that National Savings deposits make around 35% of entire banking deposits of nation and its 51% customers are women. He further elaborated the new initiative of National Savings being considered for promotion of savings and financial inclusion which include automation, introduction of mobile application and digitization besides introduction of alternate delivery channels to expand the outreach of National Savings to every Pakistani. The DG, CDNS also briefed the seminar about recent development and customers facilitation initiatives.
Mr.Aftab Diwan, Chief Executive CDC delivered the speech on the role of depository in promotion of Savings and consumer protection. Mr. Shahnawaz Nadir, Chief Investment Special, Government of Sindh also spoke and highlighted role of pension funds in promotion of savings. Dr.Farrukh Iqbal Director IBA, Karachi, delivered speech on increasing savings rates and its benefit the economy and how other countries of region and world best practices can be implemented to increase savings rate in Pakistan. Mr.Hussain Lawai, Chief Executive IBP said “National Savings Organization is playing an important role in providing risk free saving and investment opportunities for the low income segments of the country. He delivered his message on social security and inclusive growth-role of financial sector. Mr. Irfan Siddiqui , President Meezan Bank delivered presentation on prospects of launching Sharia Product by National Savings and apprised that it will increase savings and investment as large number of people are refraining to invest due to Riba factor will invest their savings with NSS. Mr. Hasan Bilgrami, CEO Bank Islami Pakistan, Mr. Abdul Ghafoor Baloch Joint Director National Savings, Karachi paid vote of thanks being host of the event.

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