The Ghanaian Minaret

Tamale: Muslims in Tamale, the capital of the Northern region, have expressed delight with the innovative Hajj savings account, a product introduced by the largest bank in Ghana, GCB Bank.

They regarded the product as a vital intervention towards helping Muslims in Ghana to prepare financially for Hajj, the fifth pillar of Islam.

After a successful launch in Accra on September 5, the bank launched the product in Tamale on September 11, taking the innovation to customers in the region with the largest Muslim population in Ghana.

Sheikh Abdul Mumin Dalhu, Head of the Shia Community in Tamale, said the initiative was timely and impactful for Muslims who aspired to perform the Hajj.

“The pilgrimage is very important for Muslims, and its significance cannot be underestimated. It is when you go and return that you truly appreciate its value.

“Allah is indeed the giver and most merciful, but we cannot fold our arms and wait. We must plan and save little by little, and Insha Allah, we will get there,” he said.

Sheikh Abdul-Rahim Yamusah, Chief Imam of the 6th Garrison of the Air Force base in Tamale, commended GCB Bank for making the sacred journey more accessible.

He urged Muslims to take advantage of the initiative, as the banking product provided a practical and Sharia-compliant path for prospective pilgrims.

“This is a Sharia-compliant initiative that provides convenience and security for Muslims who wish to perform Hajj. It will allow us to save gradually and with dignity, without fear of exploitation,” he stressed.

Customers who sign up for the account are able to make flexible deposits from as little as GH¢50.00 and maintain the account without monthly charges.

They are guaranteed free e-alerts, e-statements, and insurance cover to provide pilgrims with extra peace of mind while preparing for their journey.

Importantly, the product is Sharia-compliant, which implies that it was in line with Islamic principles of banking.

The Head of Retail Sales and Distribution of GCB Bank, Alhaji Yaquob Mahmoud Gomda, explained that the account did not accrue interest, which Islam forbids as riba (usury).

“There will be no charges or interest. It is a safe and lawful option for every Muslim who dreams of performing Hajj,” he said.

Sina Kamagate, the Head of Retail Banking at GCB Bank, shared his experience of being defrauded by an agent in 2009 when he attempted to save for Hajj.

Mr Kamagate added that aside from reducing risks and easing the financial burden, GCB Bank was giving Muslims across the country peace of mind as they prepared for their sacred journey.

“The Bank will facilitate the transfer of funds directly to accredited agents without putting money into their private accounts, ensuring a secure and transparent process,” he said.

The innovation was part of efforts to build trust between the banking sector and Ghana’s Muslim community by aligning financial services with cultural and religious needs.

Source: Graphic online, GNA and other news outlets