Saudi Arabia launches 6th round of ‘Sah’ savings

Saudi Arabia has launched the sixth round of its subscription-based savings product, Sah, for August, offering an appealing return of 5.48 percent.

This initiative, which began on Aug. 4 and will continue until Aug. 6, aims to bolster financial stability and encourage saving among Saudi citizens.

Sah, a Shariah-compliant sukuk, is managed by the National Debt Management Center and issued by the Ministry of Finance. The product is designed to be low-risk and fee-free, making it accessible through the digital channels of approved financial institutions. This latest round of Sah is part of a broader effort to foster a culture of saving by encouraging individuals to regularly set aside a portion of their income.

The sukuk aligns with Saudi Vision 2030’s Financial Sector Development Program, which seeks to raise the national savings rate from its current level of 6 percent to an international benchmark of 10 percent by 2030. By offering an easy and structured way for Saudis to invest, Sah supports this ambitious goal.

Subscriptions for Sah start with a minimum amount of SR1,000 ($266.39), which is the value of one bond. The maximum subscription limit is set at SR200,000, allowing individuals to purchase up to 200 bonds during this subscription period.

Through this approach, the program aims to make savings more attractive and accessible to a broad segment of the population, further promoting financial growth and stability across the nation.

The Sah product is available to Saudi nationals aged 18 and above who open an account with SNB Capital, Aljazira Capital, or Alinma Investment. SAB Invest and Al Rajhi Capital are also eligible options.

It offers attractive returns aligned with prevailing market rates, leveraging government backing to ensure it remains a low-risk financial instrument.

Participants can redeem their investments according to the published annual calendar; however, early withdrawals forfeit accrued returns and profits.

In February, Hani Al-Medaini, CEO of the National Debt Management Center, highlighted that the sukuk aims to foster private-sector collaboration. Future initiatives include developing and launching tailored savings products for various individual categories through banks, fund managers, financial technology companies, and others.

“I believe that issuing Sah is a great financial initiative led by the Saudi government to encourage people to save and enhance financial inclusion in the Kingdom. This initiative entitles everyone to access financial products and services that meet their needs, such as having a bank account or savings product like Sah,” Al-Madini said at the time.