human resource management
1) Evaluate modus operandi of Syariah - compiant instruments below :
Al Wadiah Saving Account
Wadi’ah is a safe custody contract (akad) . There are two forms of Wadi’ahYadAmanah (Trustee Safe Custody) and YadDhamanah (Guaranteed Safe Custody). Originally, Wadi’ahYadAmanah where the custodian has the duty to protect the property by not mixing or pooling the properties or money under his custody, not using the properties and not charging and fees for safe custody. If he failed any of the above, Wadi’ah changes to YadDhamanah where he has to return (replace) the properties to the owners if they were lost or destroyed.
The customers’ deposits in Saving Account are taken by the Bank on the same contract with modification on the payment of profit at the absolute discretion of the bank. The details are as follows:-
a) The Bank accepts deposits from its customers looking for safe custody of their funds and absolute convenience in their use in the form of Savings Accounts on the principle of Wadi’ahYadDhamanah
b) The bank requests permission from such customers to make use of their funds so long as these funds remain with the bank.
c) The customers may withdraw a part or the whole of their balances at any time they do desire, the banks guarantees the refund of such balances.
d) All profits generated by the bank from the use of such funds belong to the bank. However, in contrast with current account, the bank may at its absolute discretion reward the customers by returning a portion of the profits generated from use of their funds from time to time.
e) The bank provides its customers with saving passbook and the other usual services connected with saving account. The bank also provides the Automated Teller Machine (ATM) services for these accounts.
Islamic banks in Malaysia (except the International Islamic banks or IIB) are giving "hibah" in monetary form (as gesture of appreciation by the bank to the Depositors) and somehow, the Syariah Committee (SC) of
Al Wadiah Saving Account
Wadi’ah is a safe custody contract (akad) . There are two forms of Wadi’ahYadAmanah (Trustee Safe Custody) and YadDhamanah (Guaranteed Safe Custody). Originally, Wadi’ahYadAmanah where the custodian has the duty to protect the property by not mixing or pooling the properties or money under his custody, not using the properties and not charging and fees for safe custody. If he failed any of the above, Wadi’ah changes to YadDhamanah where he has to return (replace) the properties to the owners if they were lost or destroyed.
The customers’ deposits in Saving Account are taken by the Bank on the same contract with modification on the payment of profit at the absolute discretion of the bank. The details are as follows:-
a) The Bank accepts deposits from its customers looking for safe custody of their funds and absolute convenience in their use in the form of Savings Accounts on the principle of Wadi’ahYadDhamanah
b) The bank requests permission from such customers to make use of their funds so long as these funds remain with the bank.
c) The customers may withdraw a part or the whole of their balances at any time they do desire, the banks guarantees the refund of such balances.
d) All profits generated by the bank from the use of such funds belong to the bank. However, in contrast with current account, the bank may at its absolute discretion reward the customers by returning a portion of the profits generated from use of their funds from time to time.
e) The bank provides its customers with saving passbook and the other usual services connected with saving account. The bank also provides the Automated Teller Machine (ATM) services for these accounts.
Islamic banks in Malaysia (except the International Islamic banks or IIB) are giving "hibah" in monetary form (as gesture of appreciation by the bank to the Depositors) and somehow, the Syariah Committee (SC) of