SHARIAH COMPLIANCE FOR DIGITAL GOLD SAVINGS IN THE FINTECH ERA

Abstract

Fintech developments encourage the presence of digital gold savings as an alternative to technology-based investment. However, this transformation has created a gap between digital innovation and Sharia law certainty, especially concerning contracts, ownership, and transaction risks. This study uses a qualitative descriptive approach with literature analysis and secondary data to assess the suitability of digital gold savings with Sharia principles based on the theory of Maqashid Sharia. The study results show that although this product supports financial inclusion, there are still weaknesses in the clarity of contracts and gold ownership status that can potentially cause elements of gharar and usury. These findings have theoretical implications for strengthening Sharia analysis based on Sharia objectives and practical and policy implications for developing regulations by financial authorities and fatwas. The novelty of this study lies in integrating Sharia valuation into digital financial products, which is still rarely discussed comprehensively.