Saudi Arabia Launches Sixth Round of Sah Savings Program with 5.48% Returns

Saudi Arabia has introduced the sixth round of its Sah subscription-based savings product for August, offering a return of 5.48 percent. Launched on August 4 and available until August 6, this initiative aims to enhance financial stability and promote saving among Saudi citizens.

Managed by the National Debt Management Center and issued by the Ministry of Finance, Sah is a Shariah-compliant sukuk designed to be low-risk and fee-free, accessible through the digital channels of approved financial institutions. This effort is part of a broader initiative to foster a culture of saving by encouraging regular income allocation.

Sah aligns with Saudi Vision 2030’s Financial Sector Development Program, which aims to increase the national savings rate from 6 percent to 10 percent by 2030. By providing an easy and structured investment option, Sah supports this goal.

Subscriptions for Sah start at SR1,000 ($266.39) per bond, with a maximum limit of SR200,000, allowing individuals to purchase up to 200 bonds during this period. This approach seeks to make saving more appealing and accessible to a wide range of the population, promoting financial growth and stability nationwide.

The Sah product is available to Saudi nationals aged 18 and above who have accounts with SNB Capital, Aljazira Capital, Alinma Investment, SAB Invest, or Al Rajhi Capital. It offers returns aligned with market rates and benefits from government backing, ensuring it remains a low-risk financial instrument. Participants can redeem their investments as per the annual calendar, but early withdrawals forfeit accrued returns and profits.

Source: Arab News