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FOUNDATION OF

ISLAMIC FINANCE
AL-WADIAH
by : Ahmad Akmal Bin Shahidan

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

AL-WADIAH

C ontract between owner of the goods and custodian


of the goods which the bank as a wadi(custodian) will
kept the property of Muwaddi(depositor) safely and
protect goods from being stolen or destroyed .

TYPE AL-WADIAH

Type of
deposit
(Al-Wadiah)
Wadiah Yad
Amanah

Wadiah Yad
Dhamanah

WADIAH YAD AMANAH(TRUST)


Bank or custodian acts a trustee and take care of the
funds
No guarantee on return of the funds in the event of a
loss due to theft ,fi re ,fl ood and other natural disaster.
The diff erent kinds of items will are kept diff erently
Eg: Money(cash) on bank, Silver or gold must be kept in
secured place such in the house.
Bank/custodian duty:
Not mixing or pooling the properties kept under custody
Not using the property
Not charging any fees for safe custody

WADIAH YAD DHAMANAH


Guarantee refund of prpoperty kept with the bank or
custodian.
Bank will return the properties to the owner if they
were lost or destroyed.
Customer allows the bank to utilise its funds limited
to halal ventures and in compliance with syariah.
Profi t or loss will be arrange by bank and become
bank responsibility.
Bank will give hibah to the depositor but not in
agreed advance like convensional banking.

ESSENTIAL ELEMENT OF AL-WADIAH


Muwaddi (depositor)
Have legal capacity,must be sane and reached the age
of puberty
Wadi (Bank/Custodian)
Person has legal capacity
Wadiah (Deposited Property)
Valuable property in Islamic Law(Mal AlMutaqawam),can be possessed physically
Sighoh (Ijab and Qabul)
Off er and acceptance between Muwaddi and Wadi

MODUS OPERANDI AL-WADIAH

Depositor
Wa
dia
h

/pr
op
ert
y

Hib
a

Bank/Custodia
n
Inv
est
/b

orr
ow

Pro
fit

to

or L
oss
Halal
investment/borrow
er

COMPARISON
Islamic Banking

Convensional Banking

Principal amount is fully


guaranteed
At discretion,local
Islamic Bank wil give
Hibah or gift as gesture
of appreciation.
No profi t sharing
Bank cannot off er any
inducement in the form
of gift/promotional items
to attract new depositors

Savings deposit and


interest not guarantee
Interest is fi xed at
predetermined rate
but subject to revision
Interest is paid on all
savings deposit placed
Bank can off er
promotional items to
attract new depositors

BANK THAT OFFER AL-WADIAH


SAVING ACCOUNT
Bank Islam
Minimum deposit saving is Rm100 and minimum
balance is Rm10
Open to all 13 years old and above

Bank will give Hibah every month based on Banks


discretion

THAT ALL FOR


TODAY..
THANK YOU..
MAKE THE RIGHT CHOICE..

Ahmad Akmal Bin


Shahidan