Wakalah system is an important foundation in Islamic social assurance. A person acting as a representative fully entrusted to manage the required things. Thus, each representative should have honest and trustworthy to a given task. The concept of representation as practiced by most of Takaful operators creates employment opportunities and one of the sources of income. The representatives also have the opportunity to perform responsibilities, encourage people to help each other and develop Islamic Muamalat system. To abbreviate, the concept of Wakalah might be conclude as :
1. Legally Wakalah refers to a contract where a person authorizes another to do a certain well-defined legal action on his behalf. Am agent is someone who established contractual and commercial relations between a principal and a third party. Agency is necessitated by the fact that an agent has to perform certain tasks which the principal has neither the time, knowledge nor the expertise to perform himself. The need for agency arises where a person has no ability or expertise to perform a certain action.
2. Wakalah is non-binding contract. The principal or the agent may withdraw at any time by mutual agreement, unilateral termination, discharging the obligation, destruction of the subject matter and the death or loss of legal capacity of the contracting parties. If the agent concludes a contract that contravenes the terms and conditions of the agency, the contract is not binding in the principal and its validity depends on his approval. In case where an agent concludes a contract that apparently contravenes the conditions, but the contract as beneficial to the principal, it is binding on him.
3. In period completely fast and practice many job or tack incapable done by someone. This case happened because of bustle or limited time and man power possessed. Thereby delegation or task / job representative to other people become custom that done by each people to achieve efficient life that more and more full with challenges. Substantively the custom appoints someone as a representative have available since previously in the matter of history people life.
4. In Islamic contemplation, Wakalah contract in banking practices permitted done so long as based on willingness each party. For that each party involved in contract need know those Wak alah contract laws include right and obligation each party involved in contract.