Details of the ‘Sah’ Sukuk product since launch

In this report, Argaam monitors details of the “Sah” product, a government sukuk product intended for individuals, which was launched in February 2024.

The “Sah” product is a Sharia-compliant security issued by the Saudi government through the Ministry of Finance and arranged through the National Debt Management Center (NDMC).

The highest return for the product since its launch was 5.64% in both February and May 2024, while the lowest return was 4.66% in May 2025.

The current year has witnessed the maturity date of the “Sah” 2024 Sukuk product every month since February, as shown in the following table:

The Sah product has been allocated for individuals with lucrative returns that are offered on a monthly basis according to 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).

The product is intended for Saudi individuals, male and female, over the age of 18, provided the subscriber has an account with one of the financial institutions (SNB Capital, AlJazira Capital, Alinma Investment, Saudi Awwal Bank, and Al Rajhi Capital).

The product is characterized by being compatible with Islamic Sharia, with lucrative returns, government-backed, low-risk, easy to subscribe, no restrictions on redemption, and fees-free.

The product aims to enable individuals to make better financial planning for the future, 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.