Syirkah Wujuh, A Practice Of Islamic Economy That Doesn't Prioritize Capital

YOGYAKARTA - In the business world, the concept of syirkah or partnership is one of the important pillars in the practice of Islamic economics. One of the interesting forms of syirkah to study is syirkah wuhjuh.

Unlike other forms of syirkah which emphasize material capital, syirkah wuhjuh emphasizes other things such as trust.

In this scheme, partners work together by utilizing the good name and network they have for profit.

This article will thoroughly explore the syirkah wuhjuh, starting from its definition, legal basis, to its implementation in the context of modern business.

Reporting from the NU Online page, syirkah wuhuh occurs when two individuals or more, known to have a good reputation, make purchases of goods on credit. They then agreed to share the profits from the sale of these goods, without any initial capital being deposited.

Profit sharing can be made evenly (50%-50%) or at other proportions according to a mutual agreement, such as a third of the profits for each party.

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Based on this definition, important elements in syirkah wuhjuh include:

Syirkah wuh is a unique form of cooperation in the Islamic business world, where financial capital is not the main requirement.

The essence of this syirkah is an individual association that agrees to run a joint venture without an initial capital injection. They rely on their reputation, expertise, or network as a non-matter "modal".

The profits obtained from these efforts were then divided according to the agreement that had been made previously. Likewise with the losses, which are borne together based on the agreed proportion.

This form of cooperation is often found in daily practice, such as in the group of wholesale workers, construction project teams, tender consortiums, or architect partnerships.

In the cases mentioned above, the parties involved contributed their skills and expertise, while the material capital was provided by other parties. It is important to note that the application of wuhjuh syirkah in each of these examples has a different feel, depending on the agreement and applicable conditions.

To give a clearer picture, here are simple illustrations:

Imagine a factory that produces household necessities. The factory's management sees potential in two people who have integrity and spirit of entrepreneurship, but do not have capital.

They then invited the two people to collaborate in a business. As a condition, they are asked to form a working group.

After the group was formed, they agreed to use the house of one of the members, such as Zaid, as an operational center. The house rental fee, amounting to Rp. 200,000 per month, is taken from business profits.

Profits generated every month are divided between the two members based on agreed working hours, after deducting operational costs such as electricity, rental, and water.

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