This newly written English record explains what can be established about the issue and takes a closer look at its gold paper. It keeps original research credit and distinguishes the original authors’ 2018 argument from one current Malaysian product example.
The original Arabic gold paper is publicly readable through the publisher’s viewer. The complete issue file and printed contents were not recovered. The contents map below therefore identifies archived catalogue entries, with that limit visible.
The Arabic journal’s 2018 volume 9, issue 2
The old address /library/journald/2/1210 identifies an issue catalogue. Both the archived page and the repository’s original URL support this scope. The issue title should not be replaced by the gold paper’s title. A1 A2
The repository was deposited in December 2020, two years after publication. Its registered-user PDF restriction does not describe the publisher’s current public article viewer. A2 A3
What does the gold paper contribute?
The public abstract describes a descriptive and inductive examination of Malaysian gold transactions, juristic evidence and fraud programmes. Its concern is the structure of the transaction: paying for gold, receiving it, and avoiding delay or deferment that gives rise to the authors’ riba concern. Riba in this discussion concerns prohibited deferment in gold exchange; qabd means taking possession. A2
The inspected conclusion discusses deferred delivery, purchases without possession and sham arrangements promising fixed returns together with capital. These are attributed historical findings, not new statistics about today’s market. This record does not reconstruct every case in the paper or apply its conclusion to a named current account. A3
Figure 1 · Historical article · 2018
What must a gold arrangement actually deliver?
When is the price paid and when is gold delivered or received? The authors examine delay and deferment.
Does the buyer receive gold or recognised possession, rather than only a promise or an unsupported account entry?
The conclusion discusses sham arrangements associated with guaranteed fixed returns and capital. A promise is not proof of a genuine trade.
These historical questions do not establish that every gold account is impermissible, fraudulent or financially protected.
Text alternative: The article considers exchange timing, actual possession and fraud arrangements. These are three questions, not sequential stages or a current-product verdict.
What else is in the issue?
The 2022 archived catalogue contains six content entries plus an access entry labelled “Complete Issue with Table of Content”. Original Arabic titles appear below; the English descriptions are editorial translations. We have not verified the page ranges for the other papers or reports, nor read their full text here. A1
Figure 2 · Archived publisher listing · 25 January 2022
Six content entries in the recovered issue catalogue
- القضايا الشرعية في تجارة الذهب وبرامج الاحتيال المرتبطة بهاGold trading and related fraud programmesAzman Mohd Noor; Abdulmajid Obaid Hasan Saleh · 115–140 (IIUM)
- الحوكمة الشرعية لإصدارات الصكوكShariah governance of sukuk issuanceSaid Bouheraoua · page range not verified
- تمويل المصارف الإسلامية لمشروعات الطاقة الشمسية في الأردن - الواقع وسبل التفعيلIslamic banks’ financing of solar-energy projects in Jordan: practice and ways forwardد.عبدالله البدارين، د.عامر العتوم، د.عدنان ربابعة · Page range not verified
- هل تعترف الشريعة بثمنية العملات الرقمية المشفرة؟Does Shariah recognise cryptocurrencies as money?Abdulazeem Abozaid · page range not verified
- تقرير وتوصيات المؤتمر العالمي الثالث عشر لعلماء الشريعة في المالية الإسلاميةReport and recommendations: 13th global Shariah scholars conference in Islamic financeISRA · conference report; page range not verified
- تقرير وتوصيات المذاكرة الإقليمية الثانية عشرة لعلماء جنوب شرق آسياReport and recommendations: 12th regional muzakarah of Southeast Asian scholarsISRA · conference report; page range not verified
This is a map of recovered catalogue entries, not a verified transcription of the complete printed contents. The complete-issue access entry is not a seventh research paper.
Text alternative: The catalogue lists four academic papers and two conference reports. A seventh entry offers the complete issue with contents. Only the gold paper’s pages 115–140 are independently verified.
Gold ownership, delivery and payment terms
For a concrete example, Maybank Islamic Gold Account-i (MIGA-i) describes gold ownership, an agency arrangement for third-party storage, and separate sale and physical-redemption options. An account entry needs to be understood together with its contract and ownership records. The terms permit reassignment of cast-bar serial references; do not assume the account guarantees one permanently segregated bar. A4 A5
A bank’s selling quote and its buying quote can differ. Gold-price movements, the spread and charges affect what the customer receives. Shariah-compliance language does not itself guarantee profit, capital or deposit insurance. PIDM excludes gold and silver investment accounts/products. A4 A7
Figure 3 · MIGA-i only · checked 6 October 2026
A present-day account example: money, gold and charges
- Buy goldMoney leaves the customer’s current or savings account. The PDS describes immediate payment and delivery; the customer’s gold balance is recorded.
- Hold and keep recordsThe bank can act as agent for third-party vault storage. Serial references can be reassigned under the terms. Review evidence of ownership and the liability clauses.
Use the bank’s buying quote; money returns to the current or savings account. The buying/selling spread and gold-price movement affect the result.
Redemption and any delivery charges apply. Physical collection after an account purchase is a separate step; it is not by itself proof of impermissible deferred exchange.
No PIDM protection. OTC buy/sell/transfer: RM5 × 1.08 = RM5.40 per transaction, subject to stated exemptions. Agency fee: up to 0.5% a year of average monetary gold-balance value, currently waived at the bank’s discretion. Revised redemption charges take effect on 14 October 2026.
Text alternative: The customer pays the bank’s selling quote, receives recorded gold ownership, and may later sell at the bank’s buying quote or redeem physical gold. Sale and redemption are alternative exits. Counter transactions cost RM5 plus 8 percent SST, RM5.40; exclusions and other fees remain.
Before comparing a gold offer
- Ask when payment occurs, what evidence establishes ownership and possession, who stores the gold, and what happens if storage fails. MIGA-i has specific limitations for third-party vault and agency liability; read the actual clauses. A5
- Compare both buy and sell quotes and all counter, agency, redemption and delivery charges. The RM5.40 counter example excludes those other costs. Certain customers may receive a discretionary counter-fee exemption, including the stated senior, disability and digital-access categories. A4
- Check the fee date for the day you plan to redeem. The published revised redemption table takes effect on 14 October 2026; it is future-dated on this record’s 6 October check. A6
- The MIGA-i PDS describes account and age requirements, not a Muslim-only participation condition. Muslim readers may also seek a qualified explanation of possession and exchange compliance; every reader still needs the same price, ownership, fee and protection checks. A4
References
Sources checked on 6 October 2026. Publication dates, effective dates and archive capture dates have different meanings. Current examples below do not update the historical authors’ conclusions.
A1 · ISRA Arabic Journal: 2018, Volume 9, Issue 2 — archived publisher catalogue
I-FIKR / ISRA · Historical original
- Date or version
- Issue year 2018; archive capture 25 January 2022
- What was checked
- Issue metadata and seven catalogue entries, including the complete-issue access entry
- Limits
- 154 pages is the catalogue’s issue length. The complete issue file and printed contents were not recovered. Catalogue order is not asserted to be printed order.
A2 · Shari’a issues in gold trading and related fraud programs
IIUM institutional repository · Historical original
- Date or version
- Publication-date field: 16 December 2018; deposited 16 December 2020
- What was checked
- Author fields, Arabic title, journal 9(2), pages 115–140, abstract and original issue URL
- Limits
- The repository’s PDF requires registered-user access. This restriction is specific to IIUM; the publisher now has a public article viewer (A3). The deposit date is not the publication date.
A3 · القضايا الشرعية في تجارة الذهب وبرامج الاحتيال المرتبطة بها
ISRA Arabic Journal / I-FIKR · Historical original
- Date or version
- December 2018; Volume 9, Issue 2; DOI 10.55188/ijifarabic.v9i2.264
- What was checked
- Public Arabic article, printed pages 115–140; title/authors on 115 and bounded conclusion on 138; repository abstract cross-check
- Limits
- This record summarises the abstract and the inspected conclusion; it does not translate the whole paper, claim every case was reread, or judge a present product.
A4 · Maybank Islamic Gold Account-i Product Disclosure Sheet
Maybank Islamic Berhad · Current provider document
- Date or version
- Printed 1 January 2026; checked 6 October 2026
- What was checked
- Pages 1–2: contracts, redemption, PIDM exclusion, counter and agency fees
- Limits
- One provider example; printed date is not an explicit effective date. Charges can change. A future redemption-fee change is addressed separately in A6.
A5 · Maybank Islamic Gold Account-i Terms and Conditions
Maybank Islamic Berhad · Current provider terms
- Date or version
- Undated public copy; checked 6 October 2026
- What was checked
- Sections 7, 10 and 12–14: ownership records, agency, vault responsibility, physical redemption and resale
- Limits
- Serial numbers may be reassigned; this is not evidence of an immutable individually segregated bar. Vault and agency liabilities are limited by the terms.
A6 · MIGA-i Notes to Product Disclosure Sheet
Maybank Islamic Berhad · Future provider change
- Date or version
- Redemption-fee table states effective 14 October 2026 — future on the access date
- What was checked
- Page 2: effective date of revised physical-redemption charges
- Limits
- The future table is not used as today’s tariff. No exact current redemption price is asserted here.
A7 · Deposit Insurance System
PIDM · Current protection rules
- Date or version
- Undated live page; checked 6 October 2026
- What was checked
- Eligible deposit limit and exclusions for gold/silver accounts and investment accounts
- Limits
- RM250,000 applies per depositor per member bank to eligible deposits; Islamic and conventional eligible deposits have separate limits. It does not insure a gold account’s value.