What is the ruling on the car ownership system for employees followed by the company, which stipulates the transfer of ownership of the car to the company until its price is paid, with an additional 4.5% as administrative fees, and the employee bearing all additional costs, car expenses, and future transfer of ownership fees, along with selling the car if the employee leaves work and the company recovering its dues? And what is the permissible format if this system is not permissible?

The transaction between the company and the employee for purchasing a car can be done either through a loan contract, which is impermissible if the company takes a 4.5% interest, because it is usury (riba). Or, it can be done by the company buying the car and owning it, then selling it to the employee in installments, with the car mortgaged to the company until full payment is made. It is also permissible for the company to grant the employee an interest-free benevolent loan (qard hasan (definition)) to buy the car, and then the employee repays the loan from his salary.