ISSN: 2222-6990
Open access
Public awareness of gold savings and investment is gaining ground in Malaysia. This kind of mind clearly knows and well aware of the significance and advantages of gold, which is regarded as an inflation-proof currency. By offering a variety of gold savings and investment products, financial institutions other than banks have multiplied in recent years. Along with the community's potential exposure to scam syndicates in the gold investment industry, as Muslims they have an additional obligation to exercise caution and steer clear of any dealings or transactions involving usury. Thus, this study was done to identify the Sharia contracts and concepts found in the existing Sharia-compliant gold savings and investment models in Malaysia. This study used a document analysis approach such as articles, journals related to the theories, applications and issues of muamalat in Islam. The findings of the study revealed that most models of gold savings and investments in Malaysia adhere to the legitimate Sharia principles. The Sharia contracts that need to be focused on the application of these models are bai’ sarf, musawamah, wa’d, wakalah, wadi’ah, qard, ujrah and tawarruq. The findings of this study are very valuable for future research and development work on the Sharia-compliant gold savings and investment model as a source of information and a manual.
Abdullah, M. Y. (2012). Pelaksanaan Akaun Pelaburan Emas Menurut Perspektif Ekonomi Islam: Kajian Di Kuwait Finance House (Malaysia) Berhad (KFHMB). Kuala Lumpur: Universiti Malaya.
Al Rajhi Bank Malaysia. (2022). Product Disclosure Sheet: Gold-i. Retrieved from https://www. alrajhibank.com.my/page/personal/wealth-management/gold-i-62. Accessed on August 17, 2022.
Azizi, W. M. M., & Ahmad, A. A. (2018). Analysis of Qabd Element in Contra Trading from Sharia Perspectives. International Journal of Business and Social Science, 9 (4), 97–104.
Badri, M., Yusoff, M. N., Saripudin, K., & Yusoff, W. (2022). Analisis Syarak dan Keperluan Penambahbaikan Parameter Pelaburan Emas. Muzakarah Majlis Penasihat Syariah 2022.
Baharom, M. F. (2018). Analysis Shariah of Gold Investment Account: Study At Kuwait Finance House Malaysia Berhad. Shah Alam: Universiti Teknologi MARA.
Bank Muamalat Malaysia Berhad. (2022). Product Disclosure Sheet: Akaun Muamalat Gold-i. Retrieved from https://www.muamalat.com.my/downloads/consumer-banking/PDS_MGi_ Account.pdf. Accessed on August 19, 2022.
Basri, K. A. (2017). GAP dari Kacamata Syariah. Retrieved from https://www.facebook.com/ khairulanuar.basri/posts/10212358325087501. Accessed on August 11, 2022.
Hashim, A. M. (2022). Pelaburan Emas Leverage: Pandangan Syariah – Antara Pertimbangan Mikro dan Makro. Retrieved from
https://www.facebook.com/ashraf.mdhashim/posts/pfbid0Lpe YWSbRqn4ZXJDrQCqvz6WtfQdk6Jbk1Ax1eApx9DXtWp2VUG6FYbEWsD2ELaPJl. Accessed on August 22, 2022.
Hashim, S. (2009). Menyingkap Rahsia Pelaburan Emas. Prosiding Seminar Antarabangsa Penjanaan Ekonomi Melalui Transaksi Wang Dinar. Bangi: Universiti Kebangsaan Malaysia.
ISRA Consulting. (2020). Statement by ISRA Consulting (IC) on Quantum Metal (QM) Gold Products. Kuala Lumpur: ISRA International Consulting Sdn. Bhd. Retrieved from https://israconsulting.inceif.edu.my/statement-by-isra-consulting-ic-on-quantum-metal-qm-gold-products/. Accessed on August 20, 2022.
Junos, M. Z. (2019). Mengenai Public Gold dan Peristiwa Penting. Retrieved from https://www. pelaburanemaspublicgoldmalaysia.com/hubungi-pengedar-emas/mengenai-public-gold-dan-peristiwa-penting/. Accessed on August 11, 2022.
Maybank Islamic Berhad. (2021). Product Disclosure Sheet: Maybank Islamic Gold Account-i (MIGA-i). Kuala Lumpur: Malayan Banking Berhad. Retrieved from https://www.maybank2u.com. my/iwov-resources/pdf/personal/wealth/MIGA-i_pds.pdf. Accessed on August 16, 2022.
Quantum Metal Malaysia. (2022). Company Product. Retrieved from https://www.quantummetal. com.my/products/. Accessed on August 20, 2022.
Quantum Metal Malaysia. (2022). Product Disclosure Sheet: Flexi Gold Tawarruq Cash Conversion/Asset Enhancement (For QBEB Members Only).
Rudy, A. (2020). Penjelasan Sijil Patuh Syariah Public Gold. Retrieved from https://www. aldasir.com/penjelasan-sijil-patuh-syariah-public-gold/. Accessed on August 10, 2022.
SAC, The Shariah Advisory Council of The Securities Commission Malaysia. (2021). Resolutions of The Shariah Advisory Council of The Securities Commission Malaysia. Kuala Lumpur: Securities Commission Malaysia.
Shafie, M. Z. (2017). Siapakah Sebenarnya Penasihat Syariah Public Gold? Retrieved from https://www.mohdzulkifli.com/2017/10/siapakah-sebenarnya-penasihat-syariah-public-gold.html. Accessed on August 12, 2022.
Yaacob, S. E. (2012). Aplikasi Semasa Penggunaan Dinar Emas di Malaysia. Jurnal Islam dan Masyarakat Kontemporari, 5, 53-63.
In-Text Citation: (Abas et al., 2023)
To Cite this Article: Abas, A.-M., Zain, M. N. M., Yaacob, S. E., Yahaya, M. Z., & Ghani, N. A. R. N. A. (2023). A Review on Sharia-compliant Gold Savings and Investment Models in Malaysia. International Journal of Academic Research in Business and Social Sciences, 13(3), 1422 – 1433.
Copyright: © 2023 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non0-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode