Al-Iktisab: Journal of Islamic Economic Law
Vol 4 No 2 (2020)

Applications of Savings and Deposit Contracts in Islamic Financial Institutions

Ghozali, Mohammad (Unknown)
Mafaza, Syofi Aruni (Unknown)



Article Info

Publish Date
31 Dec 2020

Abstract

Wadi’ah is one of the forms of contract in Islamic financial institutions. Wadi’ah is the storage of goods accompanied by an agreement between the owner of the property or goods and a trusted party to take care of the property or goods. In principle, wadi’ah is to help the custodian of property or goods and the party in charge of the property or goods is as an assistant. Therefore, this wadi’ah contract is trust. This research study used a descriptive qualitative method with previous literature. The results of this study according to the type of wadi'ah are divided into two: namely the first is wadi'ah yad amanah (trust), where a person who receives a deposit is not allowed to use the goods or assets until it is taken back by the person who owns the property. The second type is wadi'ah yad dhamanah (guaranteed savings), which means that assets or goods can be used by the recipient of the deposit as long as they have not been returned to the depositor. However, if the profit is obtained from the utilization, then all of them are entitled to the recipient of the deposit. The status of the contract change from wadi'ah yad amanah to wadi'ah yad dhamanah can occur if: first, the assets in the deposit have been mixe. Second, recipients use the assets deposited. And third, recipients charge a service fee from the depositor.

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Journal Info

Abbrev

aliktisab

Publisher

Subject

Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice

Description

Al-Iktisab: Journal of Islamic Economic law is a peer reviewed journal published by University of Darussalam (UNIDA) Gontor. The journal is semi-annual journal issued on May and November. The aims of the journal is to explore and develop economics related to Islamic laws that cover issues both from ...