Gold Investment Application Through Mudarabah Instruments in Malaysia: Analysis of Gold Dinar as Capital

Zain, Mat Noor Mat; Yaacob, Salmy Edawati; Ahmad, Azlin Alisa; Zakaria, Zamzuri; Ghani, Nik Abdul Rahim Nik Abdul

doi:10.5539/ass.v10n7p173

Cited by 3 publications

(3 citation statements)

References 2 publications

(2 reference statements)

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“…In Arabic, 'al-Mudharabah' means travel, taken from the word darb fi al-ard. This is so due to the long journey taken by business traders in order to obtain goods, profits, and the likes (Zain et al, 2014). The concept of Mudharabah refers to a mutual agreement between the two parties, and one is a capital provider (sahib al-mal) and the other an entrepreneur or a business operator (Mudharib), to enable the business operator to continue the project on the basis of profit-sharing with the ratio agreed upon.…”

Section: Mudharabah Contractmentioning

confidence: 99%

Waqf based Islamic Fintech Model for Agriculture Sector of Indonesia

Khan¹,

Ghafoorzai²,

Patel³

et al. 2021

IJBEG

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This paper focuses on providing a waqf based Islamic fintech model that will work on the root cause of many problems faced by farmers such as, lack of farming equipment due to insufficient funds and other problems arising due to inadequacy of working capital. The paper is based on the qualitative method of study. Through the proposed model it is believed that the current challenges faced by farmers in Indonesia in the field of Agriculture, can be targeted and rectified as it aims basically on the root cause of the main problems, which are insufficient working capital and lack of equipment and other means of farming due to lack of funds and limited reach to financing sources. This study suggests the adoption of an integrated Waqf based Islamic fintech model which provides halal financing to the farmers for their need of working capital, and equipment. It also suggests intensifying the reach of financial institutions through vendors of farming equipment for financing the needs of farmers in rural areas.

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Section: Mudharabah Contractmentioning

confidence: 99%

Waqf based Islamic Fintech Model for Agriculture Sector of Indonesia

Khan¹,

Ghafoorzai²,

Patel³

et al. 2021

IJBEG

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“…In Islamic banking, the capital is provided by the bank and the labor/skill is provided by the customer (Amelia & Hardini, 2017). Among the suggested uses of Mudarabah in Islamic banking are small and medium project financing, interbank investment, investment deposits, and so on (Shaharuddin, 2010;Zain, Yaacob, Ahmad, Zakaria, & Ghani, 2014) Musharakah is a partnership financing in which partners share in the profits and losses of the project (Usmani, 1999). In Islamic banking, the bank provides part of the capital, which are intermingled with the other funding sources of the business enterprise (Adela, 2018).…”

Section: Literature Reviewmentioning

confidence: 99%

The Interest in Islamic Finance Contracts in Saudi Arabia as Viewed by Google Trends

Aldarabseh¹

2019

IJEF

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Several Islamic contracts have been used by Islamic banks to cover the financial needs of their customers. The contracts include Murabahah, Ijarah, Tawarruq, Mudarabah, Musharakah, Salam, and Istisna'. In the current study, the interest in Islamic financial contracts in the past 5 years (2014)(2015)(2016)(2017)(2018)(2019) in Saudi Arabia as viewed by Google trends was examined. The interest in Murabahah showed increases with the years, whereas decreases in the interest of Tawarruq, Salam Mudarabah were observed in the last years. However, the interest in Ijarah and Istisna' was stable during the examined period. With respect to Musharakah, the interest decreased with years until 2017 then it showed slight increases in 2018 and 2019. Differences in the interest of financial contracts were also observed across different regions of Saudi Arabia. The interest in Ijarah, Tawarruq and Istisna" was higher in Riyadh, whereas the interest in Murabahah and Musharakah was higher in Ha"il than other Saudi regions The present findings can be used by Islamic banks to shape their financing services according to observed interest trends and across different regions of Saudi Arabia.

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“…This element means the handover activities between two contract parties that are buying and selling or contract provider and contract receiver (Azizi & Ahmad, 2018). Several of authors stated that there are two important elements justify the shariah compliance for gold investment that is qabd haqiqi (Azizi & Ahmad, 2018;Shuib, Bakar, Osman, Hashim, & Fadzil, 2016) and qabd hukmi (Markom & Ibrahim, 2013;Zain, Yaacob, Ahmad, Zakaria, & Ghani, 2014). It signifies the means for the physical or legal possession for the transaction and constructive possession or beneficial ownership.…”

Section: Literature Reviewmentioning

confidence: 99%

Shariah Compliant Gold Investment: An Understanding among Academicians in Terengganu, Malaysia

Nordin¹,

Aziz²,

Embong³

et al. 2018

IJARBSS

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This article aims to explore the understanding of shariah compliant gold investment among Muslim academicians in public institutions of higher learning in Terengganu. Gold has retained its importance through the centuries, an indicator that only greatness survives the test of time. Of all the precious metals, gold is the most popular as an investment. There are various alternatives available for investment in gold through options. However, in the interest of Muslim investing in gold investment, there are products, techniques and investment plans are not shariah compliant. Thus, the Fatwa Committee of Malaysian National Council for Islamic Religious Affairs has issued the Shariah parameters for gold investment in Malaysia. This is important for Muslim especially an academician to have basic knowledge regarding gold investment in term of Shariah compliance. Data were collected using the technique of questionnaires. The respondents comprised 300 Muslim academicians from three selected higher institutions which are in Kuala Terengganu namely

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Gold Investment Application Through Mudarabah Instruments in Malaysia: Analysis of Gold Dinar as Capital

Cited by 3 publications

References 2 publications

Waqf based Islamic Fintech Model for Agriculture Sector of Indonesia

Waqf based Islamic Fintech Model for Agriculture Sector of Indonesia

The Interest in Islamic Finance Contracts in Saudi Arabia as Viewed by Google Trends

Shariah Compliant Gold Investment: An Understanding among Academicians in Terengganu, Malaysia

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