Is the Engineers Association's Takaful Fund considered halal? Is it forbidden to predetermine the retirement amount? What is the ruling on the variation of subscriptions based on the date of joining? Does the lack of knowledge regarding the investment channels of the funds or the existence of a penalty affect the permissibility of the fund?

If the fund is established on an Islamic cooperative system, where subscribers donate their contributions, and the management's relationship with the fund is one of agency, investing the money in permissible ventures, then there is no objection to subscribing to it. The problem arises if the contract is an exchange contract (mu'awadah) or if the money is invested in something forbidden. However, if it is a contract of donation and cooperation, and the investment is permissible, then it is permissible regardless of variations in contributions or the increase in the amount benefited. Imposing a fine for delay in this type of fund is not considered usury (riba).