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The question

Does the savings plan in one of the companies – which allows an employee to save between 5% and 15% of their basic salary with two options for investment or non-investment, and the company commits to doubling the saved amount at the end of service regardless of the investment option – have the same ruling as the Aramco system?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

For participation in savings funds to be permissible, the following conditions must be met:

The deducted money must be invested in permissible projects, not in interest-based banks. The member's capital must not be guaranteed; rather, it should be subject to profit and loss. Otherwise, it becomes an interest-based loan. The member's profit from the fund must be a shared percentage, not a fixed amount.

Based on this, participation in this system, both in its investment and non-investment branches, is impermissible.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
77967
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.
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Read the full answer on Ftawy