The following question was presented to the learned Mufti of Jamia Darul Ulum Islamia Muhammad Yusuf Banuri Town regarding EOBI and its benefits.
Question: Is it allowed to take the benefits of EOBI?
This question was answered by the learned Mufti in the following manner.
Answer: EOBI is a department established by the Government of Pakistan which provides old age pension and other benefits to workers and their heirs. The companies deduct a percentage from the salaries of the employees and contribute towards it as well. This amount is also invested in interest based investments of various organizations. The jurisprudential order for it is the same that though the investment method mentioned is not allowed, but if this deduction is compulsory, and the employee has no right to stop it then the profit which is given to employees is allowed and if the deduction is voluntary, then the amount deducted from the employee and the employer on his behalf is allowed to be received by the employee, and the interest on it is not allowed. Wallaho Aalam.
EOBI management should make serious efforts to invest the contributions in Islamic investments and avoid investments in haram ways. This would protect them and the workers from the displeasure of Allah Almighty. As Muslims, we must hold to the teachings of Quran in our lives to find the pleasure of Allah which is the true source of success in this world and hereafter.