What is the ruling on participating in a cultural competition where the participant pays 100 Saudi Riyals, which are then invested, and the participant has the right to withdraw the money at any time, while the winners are granted profits from the investment, not from the subscription fees?

It is not permissible to create or participate in a competition that relies on lending money in exchange for prizes, because the money paid is considered a loan, and every loan that draws a stipulated benefit for the lender is prohibited usury (riba). This competition is precisely like the prohibited Investment Certificates Category (C), which the Permanent Committee for Issuing Fatwas considered a form of prohibited gambling (lottery) and a major sin. The bank is gambling with usury, as it distributes usury to a small number of lenders through a lottery, which makes it worse than other certificates. If a person desires lawful sustenance, they can invest money in permissible projects and share the profits with the owners of the money without guaranteeing the principal in case of loss, provided there is no negligence.