Pakistan has approved a summary relating to an interest-free Hajj Savings scheme to help pilgrims prepare financially for the rising cost of the annual pilgrimage.
Prime Minister Shehbaz Sharif has approved a summary for the scheme, developed jointly by the Ministry of Finance and the National Savings.
Under the plan, pilgrims will be allowed to save money through a digital system, making it easier to set aside funds on a monthly basis ahead of Hajj.
Under the scheme, pilgrims will be able to choose a savings period according to their needs.
The plan will also allow the transfer of savings accounts or related facilities to other family members.
Participants will be able to withdraw their deposited funds at any stage without deductions.
The initiative aims to help pilgrims manage the rising cost of Hajj through advance financial planning and accessible digital payment options.
Sources claimed that officials are also considering expanding the model to cover Umrah and other religious pilgrimages.
The Hajj Saving Plan’s detailed procedures and regulations are expected to be finalized within the next two months.
Further details, including the formal launch, are expected to be announced after the rules have been completed.
