What is the ruling on preparing the accounts of a savings fund that deducts 5% of an employee's salary monthly, with the company paying 10% of the employee's balance, and offering an optional advance with a 5% interest deducted in advance, along with the possibility of obtaining an interest-free advance, and distributing the collected interest among the participants, excluding those who refuse, knowing that the person in charge of the accounts is entitled to an annual bonus?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is not permissible to work for this fund due to its involvement in lending with prohibited usury.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/67055
Where this answer came from
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- Ftawy
- Original fatwa ID
- 67055
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy