Nadzar as an effort to gain profit and its ideal implementation in Al-Qardh financing in Islamic Financial Institutions

Parmujianto, Parmujianto and Musataklima, Musataklima ORCID: https://orcid.org/0009-0004-9827-4460 (2025) Nadzar as an effort to gain profit and its ideal implementation in Al-Qardh financing in Islamic Financial Institutions. Jurisdictie: Jurnal Hukum dan Syariah, 16 (1). pp. 275-304. ISSN 2086-7549

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Abstract

Qardh, or interest-free lending, is one of the financial instruments employed by Islamic Financial Institutions (IFIs). However, in contemporary practice, a phenomenon has emerged involving the use of the nadzar (vow) concept as a means of gaining profit, fundamentally contradicting the intrinsic nature of al-Qardh. This study examines the integration between al-Qardh and nadzar, its legal foundation, juridical consequences, and an ideal model of implementation within IFI practices. The research employs an empirical legal method with a sociological approach, collecting primary data through interviews with informants and relevant stakeholders and secondary data through document and literature studies. All data were analysed using a qualitative-descriptive approach. The findings indicate that nadzar can be voluntarily and temporarily combined within the al-Qardh scheme based on interpretations of the DSN-MUI fatwa that permits non-binding profit arrangements. Although nadzar is not legally binding, it holds a morally binding force as a religious commitment from the customer. Ideally, this model should be applied to productive rather than consumptive financing, with returns contingent upon the success of the financed venture rather than the mere disbursement of funds. This study offers practical contributions to the development of innovative and Sharia-compliant financing schemes while also enriching the theoretical discourse on legal engineering in Islamic economics.

Item Type:	Journal Article
Keywords:	ideal implementation; legal consequence; sharia financial institution; al-Qardh-based lending;
Subjects:	15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150203 Financial Institutions (incl. Banking) 18 LAW AND LEGAL STUDIES > 1801 Law > 180105 Commercial and Contract Law
Divisions:	Faculty of Sharia and Law > Department of Sharia Business Law
Depositing User:	Mr Musataklima Musataklima
Date Deposited:	13 Oct 2025 08:24

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