GCB Bank Launches Hajj Savings Product With GHS 50 Entry Amount
GCB Bank has introduced a dedicated Hajj Savings Account designed to help Ghanaian Muslims finance the pilgrimage in a secure and regulated manner, while reducing reliance on informal agents.
The savings account launched on Friday, September 5, 2025, allows customers to begin saving with as little as GHS 50 and offers a pathway to gradually accumulate funds for Hajj or Umrah.
Crucially, deposits will be transferred only to accredited Hajj agents, in a bid to curb the recurring problem of fraud by unlicensed intermediaries.
“We have heard several news items in times past of agents who ran away with monies belonging to potential pilgrims. With the Hajj Savings Account, you no longer have to be saving money with personalities,” said Sina Kamagate, GCB’s Head of Retail Banking.
The bank has partnered with Hollard Life Insurance to provide additional protection at no extra cost. The policy covers death benefits for families of account holders and compensation for theft or loss of property.
Mr Kamagate described the product as an extension of the bank’s financial inclusion agenda.
“Today, what you have witnessed is a further demonstration of how inclusive and responsible our banking solutions are,” he added.
The Hajj account also offers post-pilgrimage flexibility, allowing customers either to continue saving for future trips or to convert their balances into a standard savings account for other goals such as travel or personal projects.
The move aligns with GCB’s broader ambitions in Islamic finance. The bank currently operates an Islamic banking unit and has signalled its intention to establish a fully-fledged unit, following recent engagements between the Bank of Ghana and the Office of the National Chief Imam on non-interest banking.
With the 2026 Hajj season approaching, GCB is encouraging early participation, suggesting that monthly contributions of around GHS 100 could enable customers to meet the pilgrimage’s financial requirements.
