GCB Bank PLC has launched a Hajj Account to help Muslims in Ghana save and plan towards performing the annual pilgrimage to Mecca.

The product was introduced at a ceremony held at the National Mosque in Accra on Friday, September 5, where the bank assured the Muslim community that the account was designed to promote safe savings, prevent fraud, and add value through insurance packages.

Executive Head of Retail Banking at GCB, Mr. Sina Kamagate, said the Hajj Account was born out of the need to provide Muslims with a secure way to prepare financially for this important religious duty.

“This day is a day that is endearing to all of us because GCB has always remained an inclusive bank. Today, what you have witnessed is a further demonstration of how inclusive and how responsible our banking solutions are,” he told journalists after the launch.

Explaining the motivation behind the product, he recalled his personal experience in 2009 when the money he had given to an agent to sponsor his grandmother’s pilgrimage was misused, “Only to receive the sad story that, for whatever reasons, that journey was never going to be possible because apparently he had used the money to solve his own problems."

Mr. Kamagate said this was not an isolated case and said that the new account would prevent such situations.

“You no longer have to save money with any personalities. Just open a Hajj account with us, which is actually a savings account. Build up your savings. When it is time for your journey, we would firstly help you by transferring that money to the Hajj account in the name of your designated Hajj agent,” he explained.

Detailing how the account works, Alhaji Gomda of GCB said it was simple to open with as little as GH₵50, using a Ghana Card, utility bill, and passport photo.

“The Hajj account is meant to be a very simple way of planning yourself towards Hajj, saving towards your Hajj,” he said.

“It is not tied to a particular year. If by the Hajj time of 2026 you have gotten your savings and you are prepared to move, the bank will move your funds to the Hajj board account wherever it is.”

He noted that withdrawals will be restricted to help account holders stay disciplined, and no debit cards will be issued to avoid unnecessary spending.

“It’s a specific savings towards the Hajj account; we intend to help our would-be pilgrims by restricting withdrawals on their accounts,” Alhaji Gomda noted.

He also clarified that the account would not attract interest, in line with Islamic principles, but would allow customers to track deposits through messages and updates.

The product comes with free insurance cover from Hollard Insurance. A representative from the company, Hajia Elikem, explained: “We came in to provide some insurance benefits or cover, which makes sure that you are secure while you are out of Ghana.

"What we provide under this cover is that, should anything happen to any member who travels to Hajj, in terms of death, disability or critical illness, there’s a lump sum benefit that will be paid to the person or the family.”

She added that the cover also includes travel insurance.

“Should you misplace your luggage, should you be hospitalised, should you get an accident, we are there to make sure that you are fine, secure and back home alive and safe,” she said.

Head of Corporate Affairs for the Ghana Hajj Taskforce, Alhaji A.B.A. Fuseini, speaking to journalists, welcomed the initiative, describing it as timely.

“I think it is a very important intervention in the sense that it gives you time, for those who may take a bit more time to gather the resources, to be able to make savings. And then it introduces certainty. Once you begin saving and you are closer to the attainment of your target, you know that the Hajj is very close,” he said.

He said that direct dealings between GCB and the Hajj Board would help eliminate impersonators and fake agents.

“It doesn’t leave room for any impersonators to intervene and then create fake accounts for money to be paid in, which generates confusion and difficulties for pilgrims,” he added.

The Executive Head of Retail Banking at GCB, Mr. Sina Kamagate, announced that GCB had also set up an Islamic Banking Unit, the first of its kind in Ghana, to develop more products tailored for Muslims who prefer faith-based financial services.

“We have created an Islamic banking unit in our bank. This is the first time in the history of banking in Ghana where a bank has set up an Islamic banking unit. We are working to start offering Islamic banking solutions to our Muslim communities who don’t fancy secular banking,” he said.

Encouraging Muslims to embrace the new Hajj Account, he said, “This product is a product that we have created to actually solve multiple challenges we have, over a period, observed when it comes to the Hajj processes. We have done this for our Muslim communities, and we implore them to set up the account.”

The Hajj Account is open to all Muslims capable of making regular deposits into the account to meet the cost of the pilgrimage.

Account holders who return from the trip can convert their account into a standard savings account to save for other purposes or invest the residual funds into any of GCB’s investment products.