The Ruling on Savings Associations Between Employees and Teachers

Question:
Honorable Shaykh, may Allah grant you success, what is the operative cause for the prohibition of the associations formed between employees or teachers? And do they fall under one of the categories of riba (usury or interest) or

Answer:
Yes, they fall under a loan that yields a benefit, because one of the partners did not lend to the others except on the condition that they lend to him; he lends to them now on the condition that they lend to him when his turn comes, he takes, he takes the total, so he lent to them in order for them to lend to him, this is a loan that yields a benefit, yes. And this is what I hold, otherwise there are those who permit this, but I hold that this is not permissible, because it is a loan that yields a benefit, yes.