What is the Islamic ruling on the system of the Social Solidarity and Education Fund launched by the Jordan Teacher`s Association No.(80)/2014?
Answer:
All perfect praise be to Allah, The Lord of The Worlds, and may His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
Having reviewed the regulations of the above Fund, the Iftaa` Council concluded that it is tantamount to an optional savings system that extends soft loans to teachers for marriage or education purposes for them and their children in addition to compensation for the family of a deceased teacher in line with Sharia (Islamic law) . In principle, all transactions are permissible so long as they don`t violate Sharia. Therefore, there is no harm in subscribing to the above Fund. And Allah knows best.
All perfect praise be to Allah, The Lord of The Worlds, and may His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
Having reviewed the regulations of the above Fund, the Iftaa` Council concluded that it is tantamount to an optional savings system that extends soft loans to teachers for marriage or education purposes for them and their children in addition to compensation for the family of a deceased teacher in line with Sharia (Islamic law) . In principle, all transactions are permissible so long as they don`t violate Sharia. Therefore, there is no harm in subscribing to the above Fund. And Allah knows best.