The way has been cleared for an interest-free “Hajj Savings Plan” for Pakistani pilgrims. According to Radio Pakistan, Prime Minister Shehbaz Sharif approved a summary jointly submitted by the Ministry of Religious Affairs and Interfaith Harmony, the Finance Ministry and National Savings, paving the way for a Sharia-compliant digital financial mechanism to help pilgrims plan and save for Hajj in advance.
Monthly savings and deduction-free withdrawals
Daily Pakistan reported that a meeting was held at the religious affairs ministry chaired by Federal Secretary Abrar Ahmed Mirza, attended by officials from the Finance Ministry, Central Directorate of National Savings and the Hajj Wing. The meeting was told that pilgrims will be able to deposit money monthly through digital channels, choose their own savings period, transfer funds to family members and withdraw their money at any time without deductions.
The secretary said the plan’s main aim is to give intending pilgrims the chance to plan the costs of Hajj in an organised and timely way, counter rising inflation and make preparation for the sacred journey easier.
Room for Umrah and Ziyarat schemes
The secretary directed the relevant institutions to finalise the rules and regulations within two months in line with the approved summary, and to include provisions for an Umrah savings scheme and a religious Ziyarat savings scheme alongside the Hajj savings fund. According to Daily Pakistan, the system is part of the government’s policy of digitising Hajj arrangements, and details on procedure, eligibility and duration will be announced in due course.
Sources: Radio Pakistan, Daily Pakistan
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