UUM Electronic Theses and Dissertation
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Pelaburan emas di Malaysia menurut perspektif kewangan Islam

Raudzatul Jannah, Ezahar (2023) Pelaburan emas di Malaysia menurut perspektif kewangan Islam. Doctoral thesis, Universiti Utara Malaysia.

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Gold investment has become an enthusiasm among investors particularly after a series of global recessions and economic crises. This has become a phenomenon for Muslims today with various products, techniques, and gold investment plans available on the current market. However, many studies show that the gold investment scheme introduced contains various muamalat issues such as gharar and riba. Thus, the objective of this study is to examine the extent to which gold investment transactions offered by gold investment companies and banking institutions today comply with the Islamic financial perspective. In addition, this study also examines the justification of Islamic muamalat and the current parameters used by institutions in gold investment transactions. Further, it analyses the modus operandi of gold investment in selected investment companies and banking institutions. The qualitative method is used to collect data from interviews conducted at Public Gold (PG), Hello Gold (HG), Kuwait Finance House (KFH), and A1 Rajhi Bank. Data analysis techniques used are document analysis and content analysis. According to the findings, various types of gold investment are available, including physical gold-based investments and gold investment accounts. The modus operandi discovered that multiple methods of handing over gold (qabadh), contract (akad), and (ijab and qabul) sighah are used in accordance with gold investment parameters and AAOIFI gold parameters. However, there are issues with the method of payment and delivery of ribawi goods that can be improved during transactions. This study contributes to a source of knowledge, especially to the Muslim community, in understanding the actual practice of shariah-compliant gold investment from various dimensions and market variations. From a practical standpoint, this study serves as a guide for industry players and Muslim investors to use the study's findings to improve the implementation of transactions, modus operandi, and existing practices for shariah-compliant gold investment.

Item Type: Thesis (Doctoral)
Supervisor : Shuib, Mohd Sollehudin and Abdul Rahim, Ahmad Khilmy
Item ID: 10626
Uncontrolled Keywords: Gold investment, shariah-compliant, gold investment account, Islamic finance
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP174 The practice of Islam
H Social Sciences > HG Finance
Divisions: Islamic Business School
Date Deposited: 06 Aug 2023 02:32
Last Modified: 06 Aug 2023 02:32
Department: Islamic Business School
Name: Shuib, Mohd Sollehudin and Abdul Rahim, Ahmad Khilmy
URI: https://etd.uum.edu.my/id/eprint/10626

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