What is the ruling on investing in the shares of the telecommunications company that will be floated on the stock exchange, knowing that the company will offer employees a grant equivalent to two months of gross salary for investing in these shares under preferential conditions (15% reduction in share price, facilitated payment in the form of a soft bank loan, and a guarantee for the share price)? What is the ruling on the profits resulting therefrom, and is zakat obligatory on them? If this investment is impermissible, is it permissible to take the value of the exceptional grant?

There is no harm in an employee accepting a gift (grant) from the company, even if the company stipulates that this grant be in the form of shares, or stipulates that the difference in amount between the employee and others be repaid if he sells his shares before the agreed-upon period. However, it is not permissible to borrow with interest to buy company shares. If the employee is granted shares, he becomes a mudarib (investing partner) in the company, and thus the company is not permitted to guarantee against loss. If the aforementioned prohibitions are absent, then the transaction is permissible. As for the zakat (definition) on shares, it is obligatory on both the principal and profits if the intention is trading, and only on the profits if the intention is to benefit from their dividends.