Al Baraka Bank Al Baraka Haj Investment Scheme

A purpose-built savings account for the pilgrimage to Makkah, open from a R100 minimum deposit with R100 top-ups and a fixed 12-month investment cycle. It earns a monthly-published Mudaraba profit share (5.228% per annum for June 2026) and adds pilgrimage-specific benefits: entry into an annual sponsored airfare draw, a gift when departing for Haj, a free Islamic will, and in-house foreign exchange facilities. Withdrawal of the Haj investment requires an air ticket or travel agent letter, which enforces the savings discipline. Benefits are extended only to customers actually proceeding for Haj or Umrah. Minors can hold the account through a parent or guardian.

The Haj Investment Scheme is what product design looks like when a bank actually understands its community. The R100 entry means a household can start saving for the fifth pillar years in advance, the 5.228% published Mudaraba return keeps the fund growing at the bank's real financing rate, and the airfare draw, departure gift, free Islamic will and in-house forex fold the whole pilgrimage logistics chain into one account. The ticket-evidence withdrawal rule is strict but it is the point: this money is for Makkah. No comparable dedicated Haj savings product exists at the window banks. For its audience it is simply the right product.