The Urgency of Hifz al-Mal in Mitigating the Risks of Buying and Selling Building Materials in the Deposit System: A Review of Maqasid Sharia

Abstract

The practice of buying and selling building materials using a deposit system, where buyers pay in full but leave the goods at the seller's warehouse for later delivery, this is a common phenomenon in the construction community. While this system offers flexibility, it carries inherent risks such as damage to goods, price fluctuations, and ambiguity regarding the transfer of ownership and liability (dhaman), which can lead to disputes. This study aims to analyze the urgency of Hifz al-Mal (protection of wealth) within the framework of Maqasid Sharia to mitigate these transaction risks. This research employs a qualitative descriptive method with a normative-empirical approach, observing practices at building material stores and analyzing them through Islamic legal theory. The results indicate that the deposit system is prone to gharar (uncertainty) and dharar (harm) if not regulated by clear agreements. The principle of Hifz al-Mal necessitates specific mitigation mechanisms, including: (1) clarity on the transfer of risk responsibility (wadiah yadh dhaman), (2) physical separation of sold goods, and (3) agreed time limits for storage. By integrating these Hifz al-Mal values, the deposit system can shift from a high-risk practice to a transaction that guarantees security and fairness for both parties.