Ruling on establishing a fund by several participants on the condition that they pay
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The questioner : Peace be upon you.
The Shaykh : And upon you be peace.
The presenter : Excuse me, peace be upon you, and Allah’s mercy and blessings.
The Shaykh : And upon you be peace, and the mercy of Allah and His blessings.
The questioner : May Allah reward you, Shaykh Muhammad. There is a question, and this is its text. Yes. We work in a company and we have a charitable fund. This is the text of the letter regarding the fund’s objectives and the method of assistance: assisting any participant who, God forbid, suffers an accident resulting in financial loss. The decision to assess the situation, disburse the assistance, and determine the amount lies with the committee managing the fund, and it has the first and final say in granting and specifying the assistance or not. The committee’s decision is considered final and not open to discussion by the participants, as this is because every participant must contribute to the fund with trust in its members. The contribution amount is only fifty riyals per month, which every participant must pay at the end of each month to the fund representative closest to him. If a participant delays payment for three months, he is considered to have withdrawn from the fund, or he must settle all his obligations. It is understood that the subscription amount is considered non-refundable by the participant and is regarded as assistance, charity, or a gift given to the fund. Note: any participant can pay several installments in advance, and can pay more than fifty riyals per share, provided that it is not from zakah money. This is the text of the letter, Shaykh?
The Shaykh : The supplication: is it permissible or not? Yes, it is permissible. Yes. And there is no zakah on it, because the one who donates does not get his money back.
The presenter : May Allah thank you, Honorable Shaykh, and may Allah bless you and your knowledge, and benefit Islam through you.
The Shaykh : And upon you be peace.
The presenter : Excuse me, peace be upon you, and Allah’s mercy and blessings.
The Shaykh : And upon you be peace, and the mercy of Allah and His blessings.
The questioner : May Allah reward you, Shaykh Muhammad. There is a question, and this is its text. Yes. We work in a company and we have a charitable fund. This is the text of the letter regarding the fund’s objectives and the method of assistance: assisting any participant who, God forbid, suffers an accident resulting in financial loss. The decision to assess the situation, disburse the assistance, and determine the amount lies with the committee managing the fund, and it has the first and final say in granting and specifying the assistance or not. The committee’s decision is considered final and not open to discussion by the participants, as this is because every participant must contribute to the fund with trust in its members. The contribution amount is only fifty riyals per month, which every participant must pay at the end of each month to the fund representative closest to him. If a participant delays payment for three months, he is considered to have withdrawn from the fund, or he must settle all his obligations. It is understood that the subscription amount is considered non-refundable by the participant and is regarded as assistance, charity, or a gift given to the fund. Note: any participant can pay several installments in advance, and can pay more than fifty riyals per share, provided that it is not from zakah money. This is the text of the letter, Shaykh?
The Shaykh : The supplication: is it permissible or not? Yes, it is permissible. Yes. And there is no zakah on it, because the one who donates does not get his money back.
The presenter : May Allah thank you, Honorable Shaykh, and may Allah bless you and your knowledge, and benefit Islam through you.
Source
قناة «فضيلة الشيخ محمد بن صالح العثيمين»، 1926- حكم انشاء صندوق من عدة مشتركين على ان يدفع /سؤال على الهاتف 📞 /ابن عثيمين — youtube.com
The Arabic text is a machine transcription of the audio recording.