Is there a sharia based 401k alternative?

Question

I am very interested in investing and saving. I read this order of investing. I am a Muslim living in a Muslim country. I do not have 401k plans. What alternatives can I use which satisfy sharia?

Answer 1

No there is not, because it wouldn't make sense to set one up.

A 401k is not an investment, it is a special type of account that receives favorable tax treatment by the US Government in exchange for additional controls on when/how you can withdraw your money.

Also, given that you do not live in the United States, there would be no benefit to a 401K account since you are unlikely to be filing US tax returns.