National Savings Launches Debit Card Facility

The Central Directorate of National Savings (CDNS) on Tuesday launched debit cards for the account holders of National Savings. Director National Savings Karachi, Muhammad Ali Thebo inaugurated the project. Commenting on the launch, Muhammad Ali Thebo took to Twitter and said, “Alhamdulilah. It is [the] beginning of [a] new era. 1st day of National Savings ATM/Debt Card transaction has been successfully tested. Congrats to all.” The debit cards issued by National Savings will work on ATMs of all banks. In the first phase, the debit cards have been issued to employees of National Savings on a trial basis. The facility will be rolled out on a wider scale to account-holders once the test phase is completed. The facility, when fully functional, will greatly benefit senior citizens, widows, and pensioners. National Savings is the largest investment and financial institution in Pakistan with a portfolio of over Rs. 3.4 trillion. It has more than 4 million investors, which are being served through a network of 376 branches nationwide, controlled by 12 Regional Directorates of National Savings (RDNS).