Application for Wakalah bi al-Ujrah Contract in Various Banks, Insurance, and Syariah Mutual Funds Indonesia According to Wahbah Zuhaili

Authors

  • Mohammad Ghozali Universitas Darussalam Gontor
  • Adinda Muftiviany Nur Jamilah Universitas Darussalam Gontor
  • Mulyono Jamal Universitas Darussalam Gontor
  • Iman Nur Hidayat Universitas Darussalam Gontor

DOI:

https://doi.org/10.21111/al-iktisab.v5i1.6204

Keywords:

Insurance, Shariah Banking, Shariah Law, Wahbah Zuhaili

Abstract

Wakalah is one of the most frequently used transactions in insurance, mutual funds, and especially Islamic banking. Insurance is one of the economic activities that we often hear about, many of these activities, such as health insurance, education, and etc. This paper uses a literature analysis method by using journals as its primary source. According to Wahbah Zuhaili there is insurance that is allowed to do and there is insurance that is illegal to do. Basically, the purpose of the insurance is having a mutual help. So if the participant does not use the insurance premium they have been paid, this premium will be allocated to others. Until there is a help-seeking action based on sincerity. However, it will be illegal if the purpose of this insurance activity is based solely on profit. Thus, it will create a synergy that will eliminate the benefits. So this insurance being an illegal activity. which is containing five elements, there are riba, gharar, gaban, qimar, and jahalah, which can damage human benefits and harms. Then insurance activity is illegal.

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Published

2021-06-02

How to Cite

Ghozali, Mohammad, Adinda Muftiviany Nur Jamilah, Mulyono Jamal, and Iman Nur Hidayat. 2021. “Application for Wakalah Bi Al-Ujrah Contract in Various Banks, Insurance, and Syariah Mutual Funds Indonesia According to Wahbah Zuhaili”. AL-IKTISAB: Journal of Islamic Economic Law 5 (1):50-64. https://doi.org/10.21111/al-iktisab.v5i1.6204.

Issue

Vol. 5 No. 1 (2021)

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