Journal Article
Published
Applications of Savings and Deposit Contracts in Islamic Financial Institutions
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
Publication Details
JournalAl-Iktisab: Journal of Islamic Economic Law
Volume4 (2)
Pagespp. 135-145
ISSN2580-4251
SubjectsK Law > K Law (General)
KeywordsWadi’ah, Property, Deposits
Item ID1818
Deposited06 Nov 2022 01:41