Is the Loyalty and Belonging Grant, in which 100 EGP are deducted monthly from the salary in exchange for the employee receiving an amount equivalent to 100 months' salary upon termination of service or death, along with details of its conditions and financial resources, considered permissible (halal) or forbidden (haram)?

If participation in the Loyalty and Belonging Grant is optional, then it is impermissible to participate in it, due to its containing impermissible (shar'i) elements. Among these is that it is a usurious compensatory contract, where the worker pays his subscription in exchange for a compensation paid to him in certain circumstances. He also has the right to withdraw his subscription and what he has paid upon termination of his employment, and this removes it from the system of cooperative insurance.