Saudi Arabia has introduced the fourth round of its Sah savings product for 2025, delivering a 4.88 percent return for April through the Ijarah sukuk model.
Managed by the National Debt Management Center and issued by the Ministry of Finance, Sah is the Kingdom’s pioneering savings bond for individuals. It operates on the Ijarah model, a Shariah-compliant leasing structure, allowing investors to earn returns by utilizing an asset.
This initiative, part of the local bond program, supports Saudi Vision 2030’s aim to boost the national savings rate from 6 to 10 percent by 2030.
In February, the NDMC announced the continued use of the Ijarah format for future offerings, aiming to provide accessible, low-risk savings options. This is a crucial element of the Financial Sector Development Program under Vision 2030, aiming to improve personal savings, enhance financial literacy, and promote financial planning.
The latest issuance began on April 6 and closed on April 8, with allocation on April 15. The redemption period is from April 20 to 22, and payments are due on April 30.
Available through digital platforms of authorized financial institutions, these bonds offer a one-year savings term with fixed returns. The minimum investment is SR1,000, with a maximum of SR200,000 per user across all issuances.
Fee-free and low-risk, the product is available to Saudi nationals aged 18 and over through Aljazira Capital, Alinma Investment, SAB Invest, Al-Rajhi Capital, and SNB Capital.
The March round provided a 4.98 percent return, raising SR2.64 billion, divided into four tranches maturing between 2027 and 2039.
Saudi Arabia’s debt market has seen significant growth, attracting investors despite rising global interest rates. A recent report highlighted Saudi Arabia’s leadership in the Gulf Cooperation Council for primary bond and sukuk issuances in 2024, raising $79.5 billion across 79 issuances.