Within the Kingdom of Saudi Arabia, the journey towards financial literacy and empowerment is gaining momentum. Aligned with the visionary roadmap of Vision 2030, the Kingdom released Sah – an Islamic subscription-based savings solution tailored to encourage saving among citizens.
To sign up to Sah, aspiring savers must be at least 18 years old and have an account with one of these institutions: Al Rajhi Bank, SNB Capital, SAB Invest, Alinma Invest, or Al Jazira Captial.
The CEO had this to say about the program: “This initiative represents an incentive for the private sector to cooperate and participate in developing and launching several savings products for specific goals for different categories of individuals, whether through banks, fund managers, financial technology companies, and the like.”
By embracing Sah, savers can securely deposit their funds into an account that is low risk and has good, moderate returns.
Currently, the savings tool is yielding a return of 5.59%. Sah offers a steady pathway to financial growth, of course, this return amount will vary based on the market. The subscription period for April is the 21st to 23rd.
In this journey towards financial independence, Sah stands as a testament to Saudi Arabia’s commitment to equipping its citizens with the tools they need to navigate the complexities of modern finances and pave the way toward a prosperous future.
Sources: Arab News, Saudi Gazette