GCB Bank Launches Hajj Savings Account to Support Pilgrims and Curb Fraud

GCB Bank has introduced a dedicated Hajj Savings Account to help Muslim customers prepare financially for the holy pilgrimage while safeguarding them from the risks associated with unregulated agents.

At the launch, the bank’s Executive Head of Retail Banking, Sina Kamagate, described the initiative as a reflection of GCB’s commitment to inclusive and responsible banking.

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

The account allows customers to begin saving with as little as GHS 50 and ensures that funds are transferred directly to the accredited Hajj Board, with agents duly notified—removing the possibility of fraud.

“We have heard several reports of agents who absconded with pilgrims’ funds in the past,” Kamagate explained. “With the Hajj Savings Account, you no longer have to entrust your money to individuals.”

The product also comes with insurance cover from Hollard Life Insurance, at no extra premium. Benefits include death compensation for families of account holders, as well as protection against theft and property loss.

Kamagate emphasized the account’s flexibility, noting that customers can continue saving even after performing Hajj or convert it into a regular savings account for other goals, such as holidays or personal projects.

The initiative ties into GCB’s broader agenda to deepen Islamic banking in Ghana. Kamagate revealed that the bank is working toward establishing a fully-fledged Islamic banking unit, following recent discussions between the Bank of Ghana and the National Chief Imam.

With Hajj 2026 fast approaching, GCB is urging early sign-ups, highlighting that consistent contributions of GHS 100 a month could help customers achieve their pilgrimage dreams.