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Al-Wadiah
1. by : Ahmad Akmal Bin Shahidan
FOUNDATION OF ISLAMIC
FINANCE
AL-WADIAH
2. CONTENT
Content
What is al-wadiah?
Two forms of Al-Wadiah
Essential element of Al-Wadiah
Modus Operandi
Diffrerence between saving account in Islamic Banking with
convensional bank
Example bank that offer Al-Wadiah saving
3. Contract between owner of the goods and custodian of the
goods which the bank as a wadi(custodian) will kept the
property of Muwaddiโ(depositor) safely and protect goods
from being stolen or destroyed.
AL-WADIAH
5. ๏ก Bank or custodian acts a trustee and take care of the funds
๏ก No guarantee on return of the funds in the event of a loss due
to theft ,fire ,flood and other natural disaster.
๏ก The different kinds of items will are kept differently
๏ง Eg: Money(cash) on bank, Silver or gold must be kept in
secured place such in the house.
Bank/custodian duty:
๏ถNot mixing or pooling the properties kept under custody
๏ถNot using the property
๏ถNot charging any fees for safe custody
WADIAH YAD AMANAH(TRUST)
6. ๏ก Guarantee refund of prpoperty kept with the bank or
custodian.
๏ก Bank will return the properties to the owner if they were lost
or destroyed.
๏ก Customer allows the bank to utilise its funds limited to halal
ventures and in compliance with syariah.
๏ก Profit or loss will be arrange by bank and become bank
responsibility.
๏ก Bank will give hibah to the depositor but not in agreed
advance like convensional banking.
WADIAH YAD DHAMANAH
7. ๏ก Muwaddiโ (depositor)
Have legal capacity,must be sane and reached the age of
puberty
๏ก Wadiโ (Bank/Custodian)
Person has legal capacity
๏ก Wadiahโ (Deposited Property)
Valuable property in Islamic Law(Mal Al-Mutaqawam),can be
possessed physically
๏ก Sighoh (Ijab and Qabul)
Offer and acceptance between Muwaddiโ and Wadi
ESSENTIAL ELEMENT OF AL-WADIAH
9. Islamic Banking
๏ก Principal amount is fully
guaranteed
๏ก At discretion,local Islamic
Bank wil give Hibah or
gift as gesture of
appreciation.
๏ก No profit sharing
๏ก Bank cannot offer any
inducement in the form
of gift/promotional items
to attract new depositors
Convensional Banking
๏ก Savings deposit and
interest not guarantee
๏ก Interest is fixed at
predetermined rate but
subject to revision
๏ก Interest is paid on all
savings deposit placed
๏ก Bank can offer
promotional items to
attract new depositors
COMPARISON
10. ๏ก Bank Islam
๏ก Minimum deposit saving is Rm100 and minimum balance is
Rm10
๏ก Open to all 13 years old and above
๏ก Bank will give Hibah every month based on Bankโs discretion
BANK THAT OFFER AL-WADIAH SAVING
ACCOUNT
11. Ahmad Akmal Bin Shahidan
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