Is it permissible for an insurance fund, which deducts a portion of employees' salaries for investment purposes towards their pension, to agree with appliance companies to advertise their products to employees, where the employee signs a purchase form with the fund and pays an advance or has installments deducted from their salary, then receives the item from the authorized dealer company, on the condition that the fund pays installments to the authorized dealer company in exchange for a percentage of the profits, given that the fund does not have warehouses to store the items before selling them to the employee?

If the fund acts as an agent for appliance companies, then it is not required to own or possess the goods it sells to employees. However, if it is not an agent, it is not permissible for it to sell what it does not own. If it purchases something, it is not permissible to sell it before taking possession and acquiring it, based on the hadith of Hakim ibn Hizam: "If you buy a sale, do not sell it until you take possession of it."

An exception to this is the salam sale, where the fund can sell a described commodity it does not own, provided the employee pays the full price at the time of the contract. The fund then purchases it from the store. Possession is not a condition; rather, the employee can be directed to receive it directly from the store.

However, if the employee will not pay the full price, the salam sale is not valid. The solution here is for the fund to purchase the commodity, remove it from the store, and then sell it to the employee. Selling it in installments is permissible.

However, if the fund pays the price on behalf of the employee to take it with an increase, this is a forbidden usurious loan. If the insurance is optional and its funds are invested in a usurious bank, then it is not permissible to participate in it.