TRANSPARENCY OF SAFEKEEPING FEES AND SHARIAH COMPLIANCE IN AR-RAHNU: A CASE STUDY OF KPFM AND KOPETRO COOPERATIVES

KETELUSAN CAJ UPAH SIMPAN DAN KEPATUHAN SYARIAH DALAM AR-RAHNU: KAJIAN KES KOPERASI KPFM DAN KOPETRO

Abstract

Ar-Rahnu is an Islamic pawn-broking system that offers collateral-based financing grounded in Shariah principles. However, the implementation of storage charges (ujrah) on pledged items has raised Shariah concerns, particularly when such charges are perceived as benefits derived from the loan itself. The lack of standardised contract structures among ar-rahnu institutions, including cooperatives, adds to public confusion and raises questions about Shariah compliance and fairness in fee calculations. This study aims to analyse the differences in ar-rahnu contract structures between Koperasi Permodalan FELDA Malaysia Berhad (KPFM) and Koperasi Kakitangan PETRONAS Berhad (KOPETRO), with a focus on the implications of storage fee practices and public perception. Adopting a qualitative approach, data were collected through document analysis, official cooperative websites, and relevant literature reviews. Findings show that KPFM maintains the traditional qard-wadi’ah-ujrah model, which raises Shariah concerns due to potential benefit from the loan. In contrast, KOPETRO has transitioned to a tawarruq-based structure, aligning more closely with the resolutions of the Shariah Advisory Council of Bank Negara Malaysia. While this change addresses the compliance issue, it introduces a new fee calculation method based on gold prices after the first six months. Public perception of transparency and fairness in fee structures significantly influences trust and the use of ar-rahnu services. The study recommends contract standardisation and greater transparency to strengthen public confidence and ensure the sustainable development of the ar-rahnu industry.

Abstrak
Ar-Rahnu ialah sistem gadaian Islam yang menyediakan kemudahan pembiayaan bercagaran berasaskan prinsip Syariah. Walau bagaimanapun, pelaksanaan caj upah simpan ke atas barang gadaian menimbulkan perbahasan dari sudut syariah kerana dikhuatiri mengandungi unsur manfaat daripada pinjaman. Ketidakseragaman struktur kontrak ar-rahnu antara institusi, termasuk koperasi, menambah kekeliruan dalam kalangan pengguna dan menimbulkan persoalan tentang tahap pematuhan syariah serta keadilan dalam pengiraan caj. Kajian ini bertujuan menganalisis perbezaan struktur kontrak ar-rahnu antara Koperasi Permodalan FELDA Malaysia Berhad (KPFM) dan Koperasi Kakitangan PETRONAS Berhad (KOPETRO), serta implikasinya terhadap isu caj upah simpan dan persepsi masyarakat. Menggunakan pendekatan kualitatif, data dikumpul melalui analisis dokumen polisi, laman web koperasi, dan kajian literatur. Dapatan menunjukkan KPFM masih mengekalkan struktur qard-wadi’ah-ujrah yang kontroversi dari sudut syariah, manakala KOPETRO telah beralih kepada struktur tawarruq yang lebih selari dengan kehendak MPS BNM. Perubahan ini menyelesaikan isu syariah, namun memperkenalkan kaedah pengiraan caj baharu yang bergantung kepada harga emas selepas enam bulan pertama. Persepsi masyarakat terhadap ketelusan dan keadilan caj upah simpan didapati mempengaruhi kepercayaan dan penggunaan perkhidmatan ar-rahnu. Kajian mencadangkan standardisasi kontrak dan penekanan terhadap ketelusan bagi mengukuhkan keyakinan pengguna dan kelestarian industri ar-rahnu.