​The Saudi Ministry of Finance, in cooperation with the National Debt Management Center (NDMC), announced the launch of the first government-backed savings product for individuals, named “Sah", derived from the Arabic acronym for “Government Sukuk." (Sukuk Hukumeah)

Chairman of the Ministry's Steering Committee, H.E Abdulaziz Alfuraih, explained that the launch of “Sah" is part of the initiatives under the Financial Sector Development Program (a key program of Saudi Vision 2030). The initiative aims to increase individual savings rates by encouraging citizens to set aside a portion of their income regularly, expand the availability of savings products, and promote financial literacy by highlighting the importance and benefits of saving for future goals.

H.E. Mr. Hani Almedaini, Chief Executive Officer of the National Debt Management Center (NDMC), explained that these sukuk fall under the local Saudi Riyal-denominated sukuk program and will be issued monthly according to the announced calendar for the “Sah" product. He added that “this initiative serves as an incentive for the private sector to collaborate and participate in developing and launching various savings products targeting specific objectives for different groups of individuals, whether through banks, fund managers, fintech companies, or other channels."

Shariah-compliant savings product “Sah" offers attractive returns and will be made available through the digital channels of several financial institutions, including: SNB Capital, AlJazira Capital, Alinma Investment, SAB Invest, and Al Rajhi Capital.

The subscription period for the first issuance of the “Sah" product is scheduled for February 2024, from the 4th to the 6th of the month. For more details about the product and the issuance calendar, please visit the following link:

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