Saudi Arabia has launched the sixth round of its subscription-based savings product, Sah, for August. It offers an appealing return of 5.48 percent.
This initiative began on Aug. 4 and will continue until Aug. 6. It aims to bolster financial stability and encourage saving among Saudi citizens.
Sah, a Shariah-compliant sukuk managed by the National Debt Management Center and issued by the Ministry of Finance, is designed to be low-risk and fee-free. It is also accessible through the digital channels of approved financial institutions. This latest round of Sah aims to foster a culture of saving by encouraging individuals to regularly save a portion of their income.
Sukuk
The sukuk is in line with Saudi Vision 2030’s Financial Sector Development Program. It aims to increase the national savings rate from 6 percent to 10 percent by 2030, reaching an international benchmark. Additionally, Sah contributes to this ambitious goal by providing a simple and structured investment opportunity for Saudis.
Subscriptions for Sah start with a minimum amount of SR1,000 ($266.39). It is the value of one bond. The maximum subscription limit is set at SR200,000. Moreover, this allows individuals to purchase up to 200 bonds during this subscription period.
Furthermore, the program aims to make savings more attractive and accessible to a broad segment of the population. It promotes financial growth and stability across the nation.
Related Topics :
Finance Min., NDMC Issue 1st Batch of Sah Savings Bonds
Entrepreneur Tala Al-Sahsah Revolutionizes Delivery Apps and Alters the Saudi Market Landscape
Saudi Donations to Gaza Ascend Charts Through Sahem Platform
Open Studio at Intermix Highlights Landscape, Saudi Culture
