SHARῙ’AH ISSUES IN GOLD TRADING AND GOLD RELATED SCAM SCHEMES

  • Azman Mohd Noor
Keywords: Riba, gold trading, gold related schemes

Abstract

Gold trading is very common and prestigious in most of the societies.
Recently, many packages or schemes that are related to gold have
appeared and developed in Malaysia, but they are subjected to
questions and disputes, as most of them are not free from riba. Riba
has been discussed extensively by Muslim scholars in the
contemporary issues of Islamic Banking and Finance area. Although
some types of riba are not explained clearly in the Quran, there are
enormous compilations of hadith that detail out the occurrence of
riba in the trading of the ribawi items, including gold. This paper
will discuss the issues of riba, which arise from gold trading as well
as gold related scam schemes. The research method used in this
paper is by explaining how riba takes place in gold trading with
deferment (riba al-nasi’ah), arguments to allow the deferment and
refutations and some models of gold scam schemes. The major
outcomes of the paper is to expose to the public the permissible way
of gold trading, tricks used by gold scammers, the models of the
program, riba issue and other related Shari’ah issue.

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Published
2018-03-29
How to Cite
Noor, Azman Mohd. 2018. “SHARῙ’AH ISSUES IN GOLD TRADING AND GOLD RELATED SCAM SCHEMES”. Al-Shajarah: Journal of the International Institute of Islamic Thought and Civilization (ISTAC), March, 61-84. https://journals.iium.edu.my/shajarah/index.php/shaj/article/view/609.
Section
ARTICLES