Hajj Savings Scheme Expansion

The Hajj Savings Scheme has recently expanded to include three new Islamic banks: Taj Bank, Alternative Bank, and Lotus Bank. These banks join Jaiz Bank, bringing the total number of participating financial institutions to four.

Key Features of the Hajj Savings Scheme:

• Eligibility: Open to all Muslims, regardless of age or social status
• Account Opening: Can be done through State Pilgrims Welfare Board Offices, HSS web portal, or any participating bank branch
• Deposit Options: Flexible deposit plans, including spontaneous or scheduled deposits (daily, weekly, monthly, bi-annually)
• Profit Sharing: Based on Islamic Mudaraba principle, with profits shared between the bank and customer according to a pre-agreed ratio
• Withdrawal: Allowed with adequate notice

Benefits:

1.  Enables Nigerian Muslims to save gradually for Hajj pilgrimage
2. Provides a more robust financial structure for facilitating pilgrimage arrangements
3. Offers a Shariah-compliant savings plan

How to Enroll:

1. Visit the National Hajj Commission of Nigeria (NAHCON) website or participating bank branches
2. Register and open a Hajj Savings Account
3. Provide required documents, including Bank Verification Number (BVN) and National Identification Number (NIN)