The subscription period for the September issue of the Sah government sukuk for individuals begun on Sunday, September 1, and will run until Tuesday, September 3, 2024.
The return rate was set at 5.31%, and the allocation will take place on September 10. Additionally, the redemption period will be from September 15 to September 18, and the redemption amounts will be paid on September 22.
The Sah product, a Sharia-compliant government bond issued by Saudi Arabia’s Ministry of Finance and arranged by the National Debt Management Center, is a savings option for individuals offering monthly returns according to the issuance calendar. Moreover, the saving period is one year with a fixed return, and profits are paid at the maturity date.
The product is for Saudi men and women over 18 with an account at Al-Ahli Financial Company, Al-Jazira Financial Markets Company, Al-Inmaa Investment Company, First Saudi Bank, or Al-Rajhi Financial Company.
Finally, the “Sah” product is part of the Financial Sector Development Program under Saudi Vision 2030. It aims to raise individual savings rates by encouraging regular income deductions for savings, increasing savings products. It also enhances financial awareness and the benefits of saving for future planning.
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