Hari ni rase macam waktu sekolah mase kecik kecik dulu. Pagi sekolah kebangsaan, petang sekolah agama. Cuma bezanya, dulu kena pakai uniform, sekarang tak payah. Dulu kena bawak beg berrraatttt, sekarang bawak organizer & thumb drive jer. Dulu banyak rehat, sekarang rehat terbatas untuk time lunch & solat sahaja. Dulu banyak tenaga – balik dari sekolah agama je dah standby nak jumpe geng se’padang’, sekarang balik keje trus flat….ergghh.
Sebenarnya…bukan ini yang hendak ku cerita…eheh. Biase la..warm up jap ;p
Today, our islamic finance class was entirely about MUDHARABAH concept & its practices. As usual, a very common topic but when the lecturer went deeper especially on the technical part, we would go “oowwhhhhhhhhhhh” or “aaaaaaaaa….” or “I seeeeee” or “no wonder laaaaaaaa….”. Tapi response ni semua bile lecturer dapat jawab la. Bile lecturer tu got stucked dengan soalan bertubi tubi ala ala nak menghentam gitu ditambah pula dengan perasaan yang macam terror oleh kami kami ni (sebab buleh nak counter attack kan…) dengan gelak gelak gatal, we would go “but just now u said yada yada yada yada” or “are u sure coz the common practise now is yada yada yada yada” or even worst, “i think there’s an omitted clause that u might have skipped/overlooked!”. And the lecturer’s face would turn purple, like what had happened today. *
Ok, I’ll go straight to the point.
Mudharabah simply means profit sharing. Meaning when there’s a profit, it will be shared between the capital provider (rab al-mal) and the entrepreneur (mudharib) as accordance to their agreed percentage (e.g: 70:30 respectively) . However when there’s a loss, 100% out of the total loss would be borne by the capital provider and the entrepreneur would bear nothing. Waittt..!!! im not finished yet lar... Even though it seems that this pratice is not Islamic despite the arabic name, this was what been adopted by our prophet Muhammad s.a.w. before his prophecy. Remember the time when he worked under Saidatina Khadijah r.a? He as the entrepreneur and she as the capital provider. As a result, her business had bloomed tremendously (from this event, the revolution of islamic trading/finance has indirectly made its first remark).
Pelik? Tak pun. Sebab sebenarnye entrepreneur tu pun still tanggung rugi juga. Not in the monetary view but in the non-monetary wise – effort, time, duit minyak, duit toll, so on & so forth.
Alrite, this is too basic kan.. Ok, ill go a bit further. I want to touch on examples of mudharabah. Nie lah yang menjadi punca kelas aku habis awal tadi… huhu. (anyway, memang cikgu kena balik awal pun sebab dia ade hal skit).
1st scenario:
Kita buat saving dalam Meibank Mudharabah account. Meibank invest duit kita dalam islamic counters. So, kita sebagai capital provider & Meibank sebagai entrepreneur. Normally the profit sharing ratio would go higher on the bank side and pretty low on the account holder side, say 97:3. Bile dapat profit, account holder akan dapat la 3% portion yang didebit terus dalam saving account kita. Sebab tu sumtimes, kita nampak dalam bank statement ade duit masuk as small as RM3 ke, RM5 ke, atau paling gempaq pun RM27.50. adei…untung pelaburan la tu namanya.
Soalan saya/kami sekelas:
Apa jadi kalau investment yang Meibank invest tu rugi? Tak pernah pulak nampak ade negative amount being credited from our account besides bank charges. So, ape jadi dengan mudharabah concept yang diwar warkan oleh Meibank atau bank bank lain yang dok pratice the same concept ni?
2nd scenario:
Kali ni kita terbalik kan situation dia (sebab cikgu tak leh jawab soklan we all tadi..eheh). Kita buat financing dengan DIMB bank, say mudharabah ratio dia 60 (DIMB) : 40 (kita). Kita start business dobi dengan duit tu. Tiba tiba business kita rugi. In real case situation, DIMB tak akan tanggung rugi tu walaupun dia memainkan peranan sebegai rab al-mal. Yang tanggungnye masih kita sebagai mudharib nih. Plus, bile ade untung, ade ke masenye untung tu di bahagikan kepada portion masing masing mengikut ratio yang dipersetujui pada awal perjanjian. Tidak mungkin…..btul tak?! Betul…takde maknenyer in real life situation manusia manusia ni nak share untung. Lagi satu, monthly instalments still need to be placed to the bank. Tak de pulak bile rugi kita boleh stop bayar…. kan. So again, where does mudharabah fall into its place?
Me & my class’ assumptions:-
- the losses portion would be hidden under the bank charges (or some may call it as administrative charges)
- the ORIGINAL mudharabah concept has been modernized or commercialised to fit into the so-called dynamic economy market strategy – again to materialized profit, no longer to practice a transparent Islamic economic practice as what have been preached by Rasulullah saw.
- the huge gap in ratio between capital provider and entrepreneur (e.g 70:30 respectively) may have already cover any loss event by the big portion holder.
A special request for Takaful M’sia (STMB) staff to respond and give your generous feedback on this issue since u have greater capacity of knowledge after your company’s Mudharabah concept as compared to my company where we operate the business using the Wakalah concept.
Whatever it is, every single thing should be clearly stipulated in a contract, with condition they must be guided by syariah requirements. Hence, any future disputes are able to be avoided. This is the beauty in Islam.
Aku cukup bertuah dapat involve dalam klas klas sebegini sebab dengan alasan inilah minda aku ‘ter’celik dan hati aku sedikit ‘ter’jaga. ;)
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