Wadiah Untuk Dana Pensiun Syariah: Inovasi Hibah Sukarela Versus Bagi Hasil Di Negara Berkembang
DOI:
https://doi.org/10.63477/joembas.v3i3.575Keywords:
Sharia Pension Fund, Wadiah Yad Dhamanah, Voluntary Hibah, Profit SharingAbstract
Sharia pension funds serve as an Islamic-principled financial protection instrument for retirement, yet their development in developing countries continues to face significant challenges. This study aims to examine the wadiah yad dhamanah contract as an innovation in sharia pension fund management, while comparing it with the profit-sharing mechanism through the mudharabah contract. A qualitative descriptive-analytical approach was employed through library research encompassing academic journals, fatwas, and relevant regulations. The findings reveal that the wadiah yad dhamanah contract guarantees full return of participants' principal funds, with voluntary hibah serving as an appreciative bonus, making it particularly suitable for participants with low risk tolerance. Unlike mudharabah, which requires participants to share investment losses, wadiah yad dhamanah provides certainty of capital return. Nevertheless, its implementation remains constrained by inadequate technical regulations, institutional governance complexity, low public literacy in Islamic finance, and limited halal investment instruments. Integrated regulatory strengthening, optimization of the Sharia Supervisory Board's role, and intensified digital-based financial education are essential to foster the inclusive and sustainable growth of sharia pension funds.
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Copyright (c) 2026 Hairullah Efendi, Mohd Winario, Rifqil Khairi, Yudi Irwan
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