EL7.AI
BondsUpdated•Originally published 6 September 2026•Updated 6 September 2026•
2 min read

Saudi Arabia Opens September Sah Sukuk Subscriptions at a 4.80% Annual Return

Key Facts

1The September issue returns 4.80%, which is 0.10 percentage point above August's 4.70% return.
2The subscription window runs from September 6, 2026, at 10:00 to September 8, 2026, at 15:00 Saudi time.
3The minimum is 1 sukuk worth 1,000 Saudi riyals, and the cumulative ceiling is 200,000 Saudi riyals.
4The savings term is 1 year, with profit paid at maturity.
5Allocation is on September 15, 2026, redemption requests run from September 20 to 22, 2026, and payment is on September 29, 2026.

Saudi Arabia opened subscriptions for the September Sah government savings sukuk on September 6, 2026, at 10:00 Saudi time. The issue's fixed annual return was set at 4.80%, compared with 4.70% for the August issue. The subscription window closes on September 8, 2026, at 15:00 Saudi time. The issue is denominated in Saudi riyals and has a 1-year term, with profit paid at maturity.

Subscriptions are limited to Saudi individuals whose age exceeds 18 years and who have an account with a participating financial institution. The minimum is 1 sukuk with a nominal value of 1,000 Saudi riyals. The ceiling is 200,000 Saudi riyals across all issues per person during the program period. Subscribers pay no fees, and the specified return remains fixed throughout each issue's term.

The Saudi government issues the sukuk through the Ministry of Finance, while the National Debt Management Center arranges them. The product is offered monthly, while the return for each issue is set according to market conditions. The first savings round closed on February 6, 2024, and was fully allocated on February 13, 2024. In 2025, the government announced the adoption of an ijara structure from the March 2025 issue and its continuation in subsequent issues.

September's 4.80% return is 0.10 percentage point above August's 4.70% return. The difference shows that the return is fixed within each issue even though it changes between monthly issues. The National Debt Management Center describes the product as government-backed and low-risk. The sukuk are registered but are not traded on the financial market, so they cannot be sold through the market for daily liquidity.

The September timetable sets allocation for September 15, 2026. The redemption-request period runs from September 20 to 22, 2026. Payment of redemption amounts is scheduled for September 29, 2026. Early redemption is limited to designated periods, and investors who withdraw early are not entitled to accrued profit.