Publication
Akkad Investment Agency
MUI National Sharia Board has issued a new contract scheme through Fatwa Number.126 / DSN-MUI / VII / 2019 Concerning the Wakalah Bi Al-Istitsmar Agreement.
Wakalah Bi Al-Istitsmar is a wakalah contract or power to invest Muwakkil capital both in return (Wakalah bi al-ujrah) or without compensation (wakalah bi ghairi al-ujrah).
The Wakalah Bi Al-Istitsmar scheme can be briefly understood as follows:
1. Investor (Muwakkil) gives wakalah (power) to the Deputy to invest (manage and develop) the funds (Akad Wakalah bi al-istitsmar).
2. Representatives invest Muwakkil's funds in a variety of contracts that are in accordance with sharia principles.
3. Investment can produce results or risks.
4. All results and risks become Muwakkil's rights and burdens.
5. Returns of Investment Funds to Investors (Muwakkil).
In sharia business practices, the Akalah Wakalah Bi Al-Istitsmar can be applied to investment business practices for sharia mutual funds, as well as for new business entities namely sharia fintech, where the owner of the fund (investor / muwakkil) can give wakalah to the operating company to manage their funds in accordance with sharia .
However, the implementation of the Bi Al-Istitsmar Wakalah Agreement is also inseparable from other Fatwas as in the case of the Bi Al-Istitsmar Wakalah Agreement conducted by granting Ujrah, then this must refer to the Wakalah Bi-al Ujrah contract.
Wakalah Bi Al-Istitsmar is a wakalah contract or power to invest Muwakkil capital both in return (Wakalah bi al-ujrah) or without compensation (wakalah bi ghairi al-ujrah).
The Wakalah Bi Al-Istitsmar scheme can be briefly understood as follows:
1. Investor (Muwakkil) gives wakalah (power) to the Deputy to invest (manage and develop) the funds (Akad Wakalah bi al-istitsmar).
2. Representatives invest Muwakkil's funds in a variety of contracts that are in accordance with sharia principles.
3. Investment can produce results or risks.
4. All results and risks become Muwakkil's rights and burdens.
5. Returns of Investment Funds to Investors (Muwakkil).
In sharia business practices, the Akalah Wakalah Bi Al-Istitsmar can be applied to investment business practices for sharia mutual funds, as well as for new business entities namely sharia fintech, where the owner of the fund (investor / muwakkil) can give wakalah to the operating company to manage their funds in accordance with sharia .
However, the implementation of the Bi Al-Istitsmar Wakalah Agreement is also inseparable from other Fatwas as in the case of the Bi Al-Istitsmar Wakalah Agreement conducted by granting Ujrah, then this must refer to the Wakalah Bi-al Ujrah contract.
