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This section will be focused on three different structures of Islamic Microcredit Facility, with the
analysis of Sharia issues that found in each structure.
1. Structure 2: Combination of Wadiah bi Ajr, Qard, and Rahn al-Wadiah
In this structure, the customer keeps his/her gold to the bank based on principle of Wadiah bi
Ajr which enable bank to charge safekeeping fee. Furthermore, Bank will give a loan (qard hasan)
on the condition that customer should pledge the gold to the bank with on base of rahn al-wadiah,
if the customer accepts the condition then the loan will be given.
The sharia issue that found from this structure is the Qard contract. When the bank gives a
benevolent loan to the customer, that contract cant be stipulated with another condition that the
customer must pledge the gold to the bank based on rahn contract. However, the bank still seeks
an income when the Qard contract is combined with Wadiah bi Ajr contract which enable bank
to charge the safekeeping fee. Thus, the combined contract can be led to Qard Jarra Manfaah.