The government has begun work on a Hajj Savings Plan in collaboration with the Ministry of Religious Affairs, the Ministry of Finance, and the National Savings, aiming to make it easier for pilgrims to finance their Hajj expenses.
Preparations are underway to introduce the interest-free Hajj Savings Plan following approval from the prime minister.
According to a spokesperson for the Ministry of Religious Affairs, a consultative meeting was held under the chairmanship of the ministry’s secretary, with representatives from the Ministry of Finance and Central Directorate of National Savings in attendance.
The spokesperson said intending pilgrims would be able to deposit money into the savings plan monthly through digital channels. The scheme would also offer flexibility in choosing the savings period and a family transfer facility.
A proposal to allow pilgrims to withdraw their savings at any time without deductions is also under consideration. The secretary of religious affairs has directed officials to prepare the rules for the Hajj Savings Plan within two months.
The meeting also discussed introducing similar savings schemes for Umrah and other religious pilgrimages.
According to the spokesperson, the Hajj Savings Plan would help pilgrims plan their finances in advance amid rising inflation. Further details about the scheme and its operational mechanism will be announced in due course.
Also Read: Saudi Arabia introduces new Hajj 2027 package for overseas pilgrims
