Govt works on Hajj savings plan amid rising costs

Please enable JavaScript for the best SAMAA TV experience.

Note: For enhanced search features, please enable JavaScript.

Proposed interest-free scheme will allow pilgrims to save monthly through digital channels

The Ministry of Religious Affairs has said on Friday that the federal government has begun work on an interest-free Hajj savings plan to help pilgrims prepare financially for rising costs.

The plan is being developed jointly by the Ministry of Religious Affairs, the Ministry of Finance and the Central Directorate of National Savings. Its launch is being prepared, subject to the prime minister’s approval.

A consultative meeting was held under the chairmanship of the secretary of religious affairs, with representatives of the Ministry of Finance and the Central Directorate of National Savings in attendance.

Under the proposed scheme, the pilgrims will be able to deposit money each month through digital channels. They will also be able to choose their savings period and transfer funds to family members.

The proposal also includes an option for pilgrims to withdraw their savings at any time without deductions.

The secretary of religious affairs has directed officials to prepare the rules for the scheme within two months.

The government is also considering similar savings schemes for Umrah and religious pilgrimages.

The Ministry of Religious Affairs said the plan would help pilgrims make timely financial arrangements amid rising inflation. Further details, including the scheme’s procedures, will be announced in due course.

In international market, gold surges to $4,125 per ounce

Saudi Arabia says several injured in two attacks on Riyadh airport, flight operations return to normal

Legendary actor dies after cardiac arrest in Goa