Saudi Arabia opens June round of Sah savings sukuk with 4.76% return

RIYADH: Saudi Arabia has opened the June subscription window for its savings sukuk product 'Sah,' offering a return rate of 4.76 percent, as part of its 2025 issuance calendar.
Organized by the National Debt Management Center under the Ministry of Finance, Sah is the Kingdom's first savings-focused sukuk designed for individual investors.
The Shariah-compliant, riyal-denominated product is part of the local bonds program aimed at fostering financial inclusion and increasing personal savings.
The June issuance opened for subscription from 10 a.m. on Sunday, June 1, until 3 p.m. on Tuesday, June 3.
The bonds are structured for a one-year term with fixed returns, and profits will be paid at maturity.
The minimum subscription is set at one bond with a value of SR1,000 ($266.56), while the maximum subscription per investor is capped at SR200,000.
The product aligns with the Financial Sector Development Program under Saudi Vision 2030, which targets raising the national savings rate from 6 percent to 10 percent by 2030.
The June issuance of Sah offers a slightly higher return compared to May, rising to 4.76 percent from the previous month's 4.66 percent, reflecting marginal shifts in market conditions.
While both issuances maintain the same structure — Shariah-compliant, riyal-denominated sukuk with a one-year maturity and fixed returns — the June window opened slightly earlier in the month, running from June 1 to June 3, compared to May's window from May 4 to May 6.
Subscription terms remain unchanged, with a minimum investment of SR1,000 and a cap of SR200,000 per individual.
Both offerings are accessible through the same network of approved financial institutions.
Sah is promoted as a secure, fee-free savings instrument offering stable, government-backed returns.
Eligible investors must be Saudi nationals aged 18 and above and must subscribe through approved platforms provided by SNB Capital, Aljazira Capital, and Alinma Investment, as well as SAB Invest, or Al-Rajhi Capital.
The sukuk is issued monthly, and the return rate for each tranche is determined based on prevailing market conditions.
NDMC CEO Hani Al-Medaini said in March that the sukuk serves as a catalyst for private sector cooperation and participation in developing and launching various savings products tailored to diverse demographics.
These initiatives could involve partnerships with banks, fund managers, financial technology companies, and more.

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