Saudi Arabia has opened subscriptions for its August 2026 “Sah” Savings Sukuk, offering a fixed annual return of 4.70%, up from 4.60% in the previous month’s issuance. According to the National Debt Management Center (NDMC), the subscription window opened at 10:00 a.m. (Saudi time) on August 2 and will close at 3:00 p.m. on August 4.
The Shariah-compliant sukuk is denominated in Saudi riyals, has a one-year maturity, and offers a fixed return payable upon maturity. The August issuance forms part of the NDMC’s 2026 issuance calendar and reflects the Kingdom’s continued efforts to promote household savings, strengthen financial inclusion, and expand access to Shariah-compliant investment opportunities.
The NDMC stated that the minimum subscription amount is SR1,000 (approximately US$266), while the maximum investment is capped at SR200,000 per individual. The sukuk is available exclusively to Saudi citizens aged 18 years and above through approved financial institutions, including SNB Capital, Aljazira Capital, Alinma Investment, SAB Invest, and Al Rajhi Capital.
Issued on a monthly basis, the “Sah” Savings Sukuk offers returns determined by prevailing market conditions and government funding costs. Managed by the Ministry of Finance through the NDMC, the program was launched under Saudi Vision 2030’s Financial Sector Development Program to encourage personal savings and increase the Kingdom’s national savings rate from around 6% to 10% by 2030.
The latest offering follows the successful completion of Saudi Arabia’s seventh domestic sukuk issuance of 2026, announced on July 21, with a total allocation of SR5.349 billion. The issuance consisted of five tranches with maturities ranging from 2031 to 2041, demonstrating continued investor confidence in the Kingdom’s sovereign sukuk program.
Separately, Moody’s Ratings recently affirmed Saudi Arabia’s Aa3 sovereign credit rating with a stable outlook, citing the Kingdom’s economic resilience, steady progress under Vision 2030, and improvements in institutional and policy effectiveness. The agency also highlighted Saudi Arabia’s strong economic fundamentals, supported by its vast hydrocarbon resources and competitive position in global energy markets.