Riyadh, March 13, 2024, The second round of government sukuk savings closed on March 5, garnering an impressive SAR959 million in total cumulative savings commitments from 37,000 participants.
Offering an attractive return rate of 5.63% for the March round, with a maturity date set for March 2025, the sukuk presented a compelling investment opportunity for savers.
The upcoming savings opportunity for government sukuk is slated to commence on April 1, 2024, under the published calendar. Interested investors can conveniently access the program through the digital platforms of participating financial institutions.
Initiated by the Ministry of Finance and the National Debt Management Center, the government sukuk initiative is a key component of the Financial Sector Development Program, aligned with the objectives of Saudi Vision 2030. Designed to foster a culture of savings among individuals, the program encourages citizens to allocate a portion of their income towards regular savings. Additionally, it seeks to expand the range of savings products available while promoting financial literacy through educational initiatives that highlight the significance and benefits of saving for the future.
