RIYADH: Saudi Arabia has launched the July subscription window for its government-backed savings sukuk, “Sah,” offering an annual return of 4.88 percent—slightly up from June’s 4.76 percent.

Part of the 2025 issuance calendar managed by the National Debt Management Center under the Ministry of Finance, the sukuk reflects ongoing efforts to promote financial inclusion and encourage personal savings among Saudi citizens.

“Sah” is issued under the Financial Sector Development Program, a core component of Vision 2030, which aims to raise the national savings rate from 6 percent to 10 percent by 2030.

Targeted at individual investors, the product offers a secure, fee-free investment avenue with stable, government-guaranteed returns. The July issuance window opened at 10 a.m. Saudi time on July 6 and will close at 3 p.m. on July 8.

As with previous tranches, the sukuk is Shariah-compliant, denominated in Saudi riyals, and carries a one-year maturity, with fixed returns paid upon redemption. The minimum subscription remains SR1,000 ($266.56), while the maximum is capped at SR200,000 per investor.

The marginal increase in return reflects slight shifts in domestic funding costs and market liquidity, as the government responds to growing demand for low-risk savings instruments.

Subscription is open to Saudi nationals aged 18 and above through approved digital platforms, including SNB Capital, Aljazira Capital, Alinma Investment, SAB Invest, and Al-Rajhi Capital.

The Ministry of Finance has confirmed that monthly issuances will continue, with each offering’s yield determined by prevailing market benchmarks.

According to NDMC, the sukuk also supports broader collaboration with the private sector, including banks, asset managers, and fintech companies, as the Kingdom works to expand access to savings products and build a more diversified financial ecosystem.