Subscription tothegovernment-backed savings product for individuals (Sah)will start tomorrow, Jan. 5.Shariah-compliantsecurities are issued by the SaudiMinistry of Finance andarranged by theNational Debt Management Center (NDMC).
Thereturn is setat 4.83%. The allocation is set to take place on Jan. 14. The redemption period willrun from Jan. 19-21. Redemption amounts will be paid on Jan. 26. 
The product is allocated for individuals with lucrative returns that are offered on a monthly basis, in accordance with the issuance calendar. The saving period is for one year with a fixed return and the accrued yields are disbursed at the end of the sukuk’s term (maturity date).
Sah is for Saudi citizens only, who are over the age of 18 years, provided the subscriber has an account with either SNB Capital, AlJazira Capital, Alinma Investment, SAB Invest or Al Rajhi Capital.
The fees-free product is characterized as compatible with Shariah standards, government-backed, low-risk, easy to subscribe, besides offering lucrative returns with no restrictions on redemption.
It aims to enable individuals to make better financial planning, increase the percentage of individuals who save periodically, provide a safe savings method, increase the supply of savings products and strengthen the culture of savings.
New ProductDetails
Issue type
Sah, which is the first Shariah-compliant savings product intended for individuals in the form of sukuks within the Kingdom’s local SAR-denominated sukuk program.
Start of subscription to the first issue
Jan. 5, 2025(at 10:00 am)
End of subscription to the first issue
Jan. 7, 2025(at 3:00 pm)
Target category
Saudi individualsabove 18
Minimum subscription limit
SAR 1,000, which is equivalent to the value of one sukuk
Maximum subscription limit
SAR 200,000 for the total number of issues per individual during the program period
Yield payment date
The annual yield on the sukuk will be paid on the maturity date
Sukuk par value
SAR 1,000
Sukuk yield
4.95%
Maturity date
Calendar year
Redemption request
Sukuk holders can request redemption during the periods specified according to the annual calendar published for “Sah”, and the accumulated profit will not be accrued upon early withdrawal
Financial institutions that provide subscription service
SNB Capital,Al Rajhi Capital,AlJazira Capital, Alinma Investment,andSAB Invest
Return rate
Depends on market conditions from month to month
Do savers pay Zakat for Sah product?
No
Subscription tothegovernment-backed savings product for individuals (Sah)will start tomorrow, Jan. 5.Shariah-compliantsecurities are issued by the SaudiMinistry of Finance andarranged by theNational Debt Management Center (NDMC).
Thereturn is setat 4.83%. The allocation is set to take place on Jan. 14. The redemption period willrun from Jan. 19-21. Redemption amounts will be paid on Jan. 26.
The product is allocated for individuals with lucrative returns that are offered on a monthly basis, in accordance with the issuance calendar. The saving period is for one year with a fixed return and the accrued yields are disbursed at the end of the sukuk’s term (maturity date).
Sah is for Saudi citizens only, who are over the age of 18 years, provided the subscriber has an account with either SNB Capital, AlJazira Capital, Alinma Investment, SAB Invest or Al Rajhi Capital.
The fees-free product is characterized as compatible with Shariah standards, government-backed, low-risk, easy to subscribe, besides offering lucrative returns with no restrictions on redemption.
It aims to enable individuals to make better financial planning, increase the percentage of individuals who save periodically, provide a safe savings method, increase the supply of savings products and strengthen the culture of savings.
New ProductDetails
Issue type
Sah, which is the first Shariah-compliant savings product intended for individuals in the form of sukuks within the Kingdom’s local SAR-denominated sukuk program.
Start of subscription to the first issue
Jan. 5, 2025(at 10:00 am)
End of subscription to the first issue
Jan. 7, 2025(at 3:00 pm)
Target category
Saudi individualsabove 18
Minimum subscription limit
SAR 1,000, which is equivalent to the value of one sukuk
Maximum subscription limit
SAR 200,000 for the total number of issues per individual during the program period
Yield payment date
The annual yield on the sukuk will be paid on the maturity date
Sukuk par value
SAR 1,000
Sukuk yield
4.95%
Maturity date
Calendar year
Redemption request
Sukuk holders can request redemption during the periods specified according to the annual calendar published for “Sah”, and the accumulated profit will not be accrued upon early withdrawal
Financial institutions that provide subscription service
SNB Capital,Al Rajhi Capital,AlJazira Capital, Alinma Investment,andSAB Invest
Return rate
Depends on market conditions from month to month
Do savers pay Zakat for Sah product?
No
