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All Journal IQTISHOD: Jurnal Pemikiran dan Hukum Ekonomi Syariah
Nur Irmandi
Sekolah Tinggi Agama Islam Al-Mas'udiyah Sukabumi
Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice

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Reconstructing Productive Rahn Tasjily Financing with Wakalah Tabarru’: A Maqasid-Based Approach for Agricultural Risk Mitigation in Islamic Microfinance Nur Irmandi; Cucu Susilawati; Sofian Al Hakim; Syamsurijal Syamsurijal; Elpha Senia Agustina
IQTISHOD: Jurnal Pemikiran dan Hukum Ekonomi Syariah Vol. 5 No. 1 (2026): Volume 5 Nomor 1 Tahun 2026
Publisher : STAI Al-Mas'udiyah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69768/ji.v5i1.214

Abstract

The agricultural sector faces a financing paradox: farmers possess high-value assets (land) that are illiquid under conventional collateral schemes, leading to financial exclusion. Previous studies on Rahn Tasjily primarily focus on legal permissibility and collateral flexibility, yet they often neglect the integration of social contracts as a risk mitigation mechanism for high-risk agricultural financing. This study aims to fill this gap by proposing a hybrid financing model that integrates commercial contracts (Rahn Tasjily, Qardh, Ijarah) with a social contract (Wakalah Tabarru’). Using a qualitative-conceptual approach with a Maqasid al-Shari’ah framework, this study constructs a model where Baitut Tamwil provides liquidity while Baitul Maal acts as a risk mitigator through technical assistance. The results demonstrate that this hybrid model resolves the liquidity trap for farmers without asset dispossession and mitigates default risk through structured tabarru’-based supervision. This study contributes to the literature on Islamic microfinance by offering a concrete model of synergy between commercial and social functions in BMT operations.
Co-Authors Elpha Senia Agustina Sofian Al Hakim, Sofian Susilawati, Cucu Syamsurijal Syamsurijal