Saudi Arabia Launches November ‘Sah’ Sukuk to Boost Savings and Financial Growth 2025

Prime Highlights

Saudi Arabia opened subscriptions for its November “Sah” savings sukuk, offering a 4.71% annual return as part of efforts to boost personal savings under Vision 2030.
The initiative supports financial inclusion and aims to raise the national savings rate to 10% by 2030.

Key Facts

The sukuk has a one-year maturity, with investments starting from SR1,000 and a cap of SR200,000 per investor.
In Q3 2025, Saudi Arabia led the Gulf debt market, raising $20.32 billion through 36 issuances, a 62.7% year-on-year increase.

Background:

Saudi Arabia has opened subscriptions for the November issuance of its government-backed “Sah” savings sukuk, offering investors an annual return of 4.71 percent. The rate is slightly lower than the 4.83 percent offered in October, but the initiative continues to strengthen the Kingdom’s drive to boost personal savings and financial inclusion under Vision 2030.

According to the National Debt Management Center (NDMC), the subscription window for the November sukuk opened at 10 a.m. on November 2 and will close at 3 p.m. on November 4. The sukuk is part of the NDMC’s 2025 issuance plan and supports Saudi Arabia’s goal to help citizens invest in safe, low-risk financial products while strengthening the national economy.

Introduced under the Financial Sector Development Program, the “Sah” savings sukuk aims to increase the country’s national savings rate from about 6 percent to 10 percent by 2030. Saudis 18 and older can invest through approved digital platforms.

The minimum investment is SR1,000 ($266.56), and the maximum is SR200,000 per person. The sukuk lasts one year and offers a fixed, Shariah-compliant return.

Saudi Arabia’s sukuk market has remained strong in recent months. In October, the NDMC raised SR7.54 billion through its riyal-denominated sukuk program across four tranches maturing between 2029 and 2039.

Saudi Arabia’s debt market grew 62.7% in Q3 2025, raising $20.32 billion. Experts say Saudi Arabia’s growth will boost global Islamic finance.