I work in an oil company. The company released an optional offer in a leaflet, indicating that a day will be deducted from the salary every month in order to be deposited at the bank until the age of retirement. Then, the money will be completely issued along with the interest. If the person wishes to take the deposited money after five years, the money plus 25% will be given to him. He will receive 50% in case of drawing the money after ten years and 75% after fifteen years. What is your opinion on this dealing? Should I subscribe, letting a day be deducted from my salary?

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallallaahu ‘alayhi wa sallam, is His Slave and Messenger.

It is impermissible to subscribe to this fund because the benefit or the interests gained from it are pure Riba because its interest is previously determined as a percentage of the capital without the possibility of increase or decrease. It is impermissible to deposit or invest the collected money at a Riba-based bank. Hence, it is impermissible to participate in this fund as long as this matter is optional. However, it is permissible to participate if the collected money from the subscribers will be invested in lawful channels.

Allaah Knows best.