GCB Bank, one of Ghana’s biggest financial institutions, has introduced a new Hajj Savings Account to support Muslim customers planning for the holy pilgrimage. The product is designed to provide a safe and reliable way of saving, while protecting potential pilgrims from the growing risk of fraud by unregulated agents.
At the official launch, the Executive Head of Retail Banking, Mr. Sina Kamagate, said the initiative reflects the bank’s commitment to inclusiveness in financial services.
“This day is special for us because GCB has always been an inclusive bank,” he told the audience. “What you are witnessing is another demonstration of how inclusive and responsible our banking solutions are.”
The new account allows Muslims to save gradually towards Hajj or Umrah with a starting balance of only GHS 50. Savings deposited into the account will be transferred directly to Ghana’s accredited Hajj Board, with respective agents notified, to reduce the risk of fraud.
Kamagate recalled past cases where dishonest agents disappeared with the funds of intending pilgrims. “We have heard several news reports of agents running away with monies belonging to potential pilgrims,” he said. “With the Hajj Savings Account, you no longer have to save money with personalities. Your funds are safe with GCB.”
To strengthen the product, the account includes an insurance package in partnership with Hollard Life Insurance at no extra cost to customers. The policy covers death benefits for the families of account holders and also offers protection against theft and loss of property during the pilgrimage.
Kamagate also explained that the account is flexible. Customers can continue saving even after they complete their pilgrimage or choose to convert it into a regular savings account to pursue other personal goals, such as family holidays or investments.
The new Hajj Savings Account forms part of GCB’s wider ambition to expand Islamic banking in Ghana. Kamagate disclosed that the bank already has an Islamic banking unit and is working to establish a fully-fledged division dedicated to Sharia-compliant products.
He revealed that just a day before the launch, the Bank of Ghana had engaged the National Chief Imam and senior clerics on plans to advance Islamic banking in the country. “As GCB, the premier bank in Ghana, we are committed to building solutions that meet the needs of all Ghanaians, including our Muslim community,” he added.
With the next Hajj season in 2026 approaching, GCB is encouraging early sign-ups. Bank officials say customers who contribute as little as GHS 100 monthly can steadily achieve their pilgrimage goals without the financial stress of last-minute preparations.
Analysts say the product could help restore confidence in pilgrimage financing, especially after several reports of fraud involving informal agents. It also signals a growing trend in Ghana’s banking sector to provide inclusive products for religious communities while deepening financial literacy and security.
The Hajj Savings Account is expected to attract a strong response from Muslim customers across the country, particularly in regions where demand for pilgrimage support services is high.
