Online gold investment is gaining increasing attention among the Muslim community looking for alternative shariah compliant investments. With that said, Quantum Metal Sdn. Bhd. (QMSB) is one of the digital gold investment platforms that offers various products that claim to comply with Shariah principles and Malaysian legislation. However, Islamic scholars contest on the shariah compliant status of this investment, particularly in terms of compliance with trading principles and taqabudh (possession) parameters, as well as the issue of non-registration with regulatory bodies such as Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC). In this regard, the study will identify the major concerns in the structure and operations of QMSB gold investments that may result in noncompliance with shariah principles and Malaysian legislation. This study employs a qualitative technique and a case study design. Data collection was carried out through document analysis and interviews. The data was then analysed using content analysis. The results of the study showed that QMSB gold investments do not fully comply with shariah principles and national legal regulations. Late payments and a lack of registration with BNM and SC are among the most serious flaws uncovered, calling the operation's legitimacy into question. This study emphasises the importance of improving the shariah and legal parts of the platform to ensure compliance with both concepts. The findings of this study make significant additions to the Islamic finance literature and provide advice to investors and financial institutions on how to ensure that their investments are shariah compliant and legally acceptable. These findings also stimulate the creation of Islamic financial products that are more transparent, competitive, and in line with shariah principles and the law.
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