Savings scheme

“Hajj Savings Plan Will Boost MSMEs and Financial Discipline”

The new Hajj savings plan by the Nigeria National Hajj Commission (NAHCON) in collaboration with the State Muslim Pilgrims Welfare Boards and Jaiz Bank Plc, will enhance access to finance for micro, small and medium enterprises (MSMEs), said Jigawa State Governor Muhammad Abubakar.

Speaking at the launch and awareness raising of the Scheme in Dutse, Jigawa state, the governor said the program will help people, especially in rural areas, save for future investments even after performing Hajj.

The governor, represented by his deputy, Alhaji Umar Namadi, said the state government will work with the pilgrim council to educate everyone in all local government councils.

In addition, Edo State Governor Godwin Obasaki said the program would make it easier for Muslims for the Hajj and is guaranteed to promote international best practices in Hajj operations.

The governor, represented by the permanent secretary of the central administration, George Egberasie, launched the program in Benin where he pledged that his government would support the program because of its potential to increase the economic fortunes of depositors.

In Katsina, the vice-governor, Mannir Yakubu, represented by the permanent secretary in the office of the governor, Abubakar Aliyu appreciated all the stakeholders in the project and pledged the support of the government to make it a success.

“The program is focused on the economy because it is a gateway to investment,” he said.

He advised not to rush the program to get the desired results. He also warned against crooks.

Speaking, Jaiz Bank Plc Managing Director Mallam Hassan Usman said the Bank will ensure prudent management of program funds by investing them in Sharia-compliant transactions.

He said the profits made from the investment will be shared among stakeholders – savers, Jaiz Bank Plc and NAHCON / State Muslim Pilgrim Boards.

Also speaking on these occasions, NAHCON President Zikirullah Kunle Hassan explained that HSS is a queuing plan on a first come, first served basis.

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