With advancing the digital platform, many investment plans were introduced to share the benefits and potential assets invested. This paper aims to seek to understand the e-commerce of gold investment transactions from the context of Shariah. The methodology adopted was interview and document research from the qualitative study. Review of existing literature sheds light on some conditions that must be adhered to in e-commerce gold investment are the four pillars of Islamic contracts consist of contracting parties, the price, offer, and acceptance, and subject matter. Gold investment also has its own standard criteria and regulations that must be fulfilled according to Shariah where the item gold has considered as ribawi item. The finding shows that Hello Gold launched the first online gold platform e-commerce through a new mobile application Smart Saver Plan as an automated 12-months savings plan that helps customers have a saving gold monthly with little effort. The features of e-commerce mobile applications are equipped with easy steps of gold purchasing which contain detailed registration, price, features of the gold specification, and method payment system. Term and condition also adhered to gain the consent of customer engagement in the transaction. Hello Gold is a recognized Shariah-compliant whereby it complies with BNM guidelines. The appraisal of these criteria and features justified the validity of Hello Gold Smart Saver Plan from Shariah review perspectives. The e-commerce of mobile application also meets the Shariah ruling transaction which in turn enhance the level of online trust among Muslim users.
The introduction of Islamic pawn broking (al-Rahnu) in Malaysia is seen as a new micro credit instrument in providing cash borrowing facility to lower income communities. The Muslims individuals' especially needy people are reliant on this institution as their financial resources and necessities fulfillment. Al-rahnu as well as reflected to Islamic business operation are must conducted according to Shari'ah principle which the process transaction are must show transparent and free of ambiguity and element of riba. There is important to have a review study of al-rahnu practice as the Muslim communities have put trusted to the system institution, in fact, the number of demand in al-rahnu are increased by over the years until present. In an attempt to fulfill the aims of the research study, the interview will be conducted to institution cooperative. This study will be given a focus to provide overview on Islamic pawnbroking (al-Rahnu) concept and analyze
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.