The Sah Sukuk and the Savings Revolution
Overview
Saudi Arabia is making significant strides toward increasing individual savings through the launch of its 'Sah' sukuk savings products. With over $700 million subscribed across the last five tranches and offering returns exceeding 4.9%, these low-risk investments are a cornerstone of the country's Vision 2030 initiative.
P&S Sector Nearly Tripled in 2024
Market Growth
Vision 2030 aims to boost financial inclusion and raise the national savings rate from 6% to 10% by 2030. According to the latest Insurance Authority report, the Protection & Savings (P&S) sector in Saudi Arabia has nearly tripled in 2024 compared to last year, with the retail segment surging fivefold.
This strong governmental push for financial independence is reshaping the market, presenting banks with a golden opportunity to expand their offerings with P&S products and better meet the evolving needs of their clients.
Optimistic About What's Ahead
360F's View
At 360F, we are optimistic about the future of Protection & Savings in the Kingdom. This is just the beginning, and there is much more to come!
