04/05/2026 04:25 AST
Saudi Arabia has opened subscriptions for its May issuance of the government-backed "Sah" savings sukuk, offering an annual return of 4.56 percent, compared to 4.50 percent offered in the previous month.
In a post on the X platform, Saudi Arabia's National Debt Management Center said that the subscription window for the issuance opened at 10:00 a.m. Saudi time on May 3 and will close at 3:00 p.m. on May 5.
The latest offering forms part of the 2026 issuance calendar managed by the NDMC and underscores Saudi Arabia's ongoing commitment to advancing financial inclusion and promoting personal savings.
Introduced as part of the Financial Sector Development Program - a core pillar of Saudi Arabia's Vision 2030 - "Sah" aims to increase the national savings rate from the current level of around 6 percent to 10 percent by 2030.
NDMC revealed that the minimum subscription amount for the May offering is SR1,000 ($266.56), while the maximum is capped at SR200,000 per investor.
The sukuk has a one-year maturity and provides fixed returns payable at redemption.
Sukuk are Shariah-compliant investment instruments that give investors partial ownership in the issuer's underlying assets, serving as a popular alternative to conventional bonds.
Unlike conventional bonds, sukuk returns are structured in full compliance with Shariah principles. The "Sah" product is marketed as a low-risk savings instrument that is fee-free, offers flexible redemption and provides returns linked to prevailing market conditions.
May "Sah" subscriptions are available exclusively to Saudi nationals aged 18 and above through approved investment platforms, including SNB Capital, Aljazira Capital, Alinma Investment, SAB Invest, and Al Rajhi Capital.
The offering reflects ongoing confidence in Saudi Arabia's economic prospects. In January, Fitch Ratings reaffirmed the Kingdom's sovereign credit rating at A+ with a stable outlook, highlighting its robust debt metrics and substantial sovereign financial assets.
Last month, NDMC announced that it raised SR16.94 billion under its riyal-denominated sukuk program for the month of April.
According to NDMC, the April sukuk was divided into five tranches, with the first one valued at SR563 million and maturing in 2031.
The second amounted to SR3.03 billion, maturing in 2033, while the third tranche, worth SR5.66 billion, will expire in 2036.
The fourth portion, valued at SR2 billion, is due in 2039, while the last tranche, due in 2041, was valued at SR5.68 billion.
Arab News
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