المضاربة وتطبيقاتها في الودائع المصرفية لمصرف جائز بنيجيريا : دراسة فقهية تحليلية

Abstract

Jaiz Bank Nigeria is considered the pioneer Islamic bank in Nigeria with significant financial activities to the Islamic economy, which triggers the need for more scrutiny of its products and services through academic and jurisprudential examinations. Recent research underscores the critical need to determine the level of Shariah compliance exhibited by the products and services offered by Jaiz Bank. This study focuses on explicating the rules and implications of Mudarabah products and services in Jaiz Bank Nigeria. The Mudarabah system in this bank is characterized by treating customers as fund owners, with the bank acting as an intermediary between fund owners and investors. All trades need to involve the total balance from each account in proportion to each customer’s contribution. An important issue arises regarding the deposit of speculative capital in a savings account instead of an investment account, impacting commercial transactions under the Mudarabah service. This concern led the researcher to choose this service for investigation, driven by the logical expectation that capital should be retained with investors for a period to facilitate trade-related tasks. After an objective thematic analysis via inductive and deductive approach of the qualitative data set from interview sections with selected Islamic banking experts and scholars, it appears that the problem has an acceptable jurisprudential interpretation. Based on interview information obtained from interviewees with direct knowledge of the Mudarabah transactions in Jaiz Bank, the researcher concluded that speculation regarding the source of its capital is a twofold process. Most of the funds bank trades come from the investment account, and this does not pose an obstacle to the investment. Such types of accounts have certain restrictions on profiteering. The smaller portion of funds is obtained from the savings account, making it comparatively less significant. However, its insignificance does not negate the underlying issue. Instead, the problem is resolved by acknowledging that customers have autonomy over the funds deposited in the savings account, with Mudarabah provisions applied only when customers maintain an amount tradable by the bank. Provisions and services related to Mudarabah in Jaiz Bank for savings accounts are contingent on the account’s creation and maintaining a logical balance. Ultimately, the daily percentage of accumulated profits is computed based on the balance of each account, leveraging advanced banking software. The researcher suggests that future research should cover the financial accounting aspect of the subject in order to scrutinize the reality of the legal regulation and continuity of the Mudaraba contract investigated during this research from an extensive jurisprudential perspective.