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The question

What is the Islamic legal ruling concerning funds forcibly deducted and those added by the company to a savings fund, especially given the lack of knowledge regarding the sources of investment for the profits? And is Zakat obligatory on these funds, given that they are not in the employee's possession?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

It is permissible to subscribe to savings funds if they adhere to Islamic guidelines, meaning their money is not invested in prohibited ventures. If the investment is in unlawful areas and subscription is voluntary, then it is not permissible. However, if it is compulsory, the subscriber should dispose of the prohibited interest by spending it on general Muslim welfare.

Regarding : If the money is invested in prohibited ventures, the principal amount is subject to Zakat annually if it reaches the . As for the profits, they should be spent on general Muslim welfare. If the money is invested in permissible ventures, both the principal and the profit are subject to Zakat annually if they reach the nisab. It is not necessary to pay Zakat from the exact money held within the fund itself.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
71910
Imported
Translation status
Source text, unreviewed
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