LAHORE – The Central Directorate of National Savings (CDNS) has reduced the profit rate for Sarwa Islamic Savings Account for second time in February 2025 amid decreasing inflation rate in the country.
The directorate offers Islamic Window operations, providing investment options to people interested in Islamic accounts.
In line with the public demand, the directorate launched Rafa National Savings (RNS) which promotes interest (Riba) free savings and investments opportunities.
Sarwa Islamic Savings Account (SISA) is based on the Shariah structure of Wakala-bil-Istismar which is an Investment Agency or a delegated authority whereby a Muwakkil (principal) appoints the Wakeel (agent) to carry out a specific job on behalf of the Muwakkil.
In case of SISA, the accountholders shall act as principal and request RNS/CDNS to appoint Ministry of Finance (MoF) as its agent in relation to the investment of the Muwakkil’s funds under the respect SISA (as the case may apply) on an unrestricted basis in Government’s projects/ revenue generating assets (the Shariah Approved Project Portfolio).
Pursuant to request, CDNS will request MoF to enter into Shariah based arrangements for managing the investments and generating profit for the accountholders.
The account holder can withdraw the invested amount at any time.
Profit Rate on Sarwa Islamic Savings Account February 2025
The National Savings has fixed the profit rate for Sarwa Islamic Savings Account at 9.74% for February 2025 as compared to previous 9.90%.
