Pakistan Greenlights Interest-Free Hajj Savings Scheme to Alleviate Pilgrimage Costs

ISLAMABAD: Pakistan has approved the development of an interest-free Hajj savings plan designed to help prospective pilgrims manage the cost of the annual pilgrimage through structured installments, the Ministry of Religious Affairs announced Friday. The move addresses the growing need for advance financial planning as pilgrimage expenses continue to rise.

The proposed Shariah-compliant scheme will enable Pakistani citizens to make regular monthly deposits via digital platforms, select their preferred savings tenure, transfer funds to family members, and withdraw savings without deductions. Specific details regarding eligibility criteria, savings terms, and an official launch date have yet to be released.

“The primary objective of the Hajj Savings Plan is to offer intending pilgrims a timely and organized method to finance their Hajj expenses, mitigate the impact of inflation, and simplify preparations for the sacred journey,” Religious Affairs Secretary Abrar Ahmed Mirza stated.

Prime Minister Shehbaz Sharif endorsed a joint proposal submitted by the Ministry of Religious Affairs, the Ministry of Finance, and the Central Directorate of National Savings, authorizing the three bodies to develop the framework. The approval was finalized during a meeting chaired by Mirza at the ministry on Friday.

Mirza directed the relevant institutions to finalize the scheme’s rules and regulations within two months, adhering to the approved proposal. He further instructed officials to incorporate provisions for similar savings products covering Umrah and other religious pilgrimages, potentially broadening the facility beyond the annual Hajj season.

Unlike Hajj, which occurs on fixed annual dates and is obligatory once in a lifetime for able Muslims, Umrah can be performed year-round. The ministry emphasized that the proposed digital system aims to modernize financial planning for pilgrims, aligning with the government’s broader digitization drive for pilgrimage management.

The initiative comes as Pakistan prepares for Hajj 2027 under a multi-year policy framework. Saudi Arabia has allocated the country an annual quota of 179,210 pilgrims, divided between government and private operators on a 60:40 basis.

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