Analisis Islam Interdisipliner terhadap Investasi Emas Digital di Indonesia: Integrasi Fikih Muamalah dan Ekonomi Pembangunan

Abstract

Digital gold has grown rapidly as an investment instrument in Indonesia. This growth has broadened public access to investment, yet it simultaneously raises questions under Islamic law, since gold is classified as a ribawi (usury-sensitive) commodity whose exchange in principle requires immediate, direct delivery  a condition that digital gold transactions rarely fulfil in a literal sense. This article examines digital gold from two disciplinary angles, Islamic commercial jurisprudence (fiqh muamalah) and development economics, discussing each separately before bringing them together in the analysis. The method used is a literature study of eight studies on digital gold in Indonesia. The findings show that digital gold can be considered sharia-compliant if it fulfils four conditions: clarity of the contract object, the existence of a verifiable underlying physical asset, constructive possession (qabḍ ḥukmī), and freedom from riba and gharar. Digital gold is also shown to contribute to Islamic financial inclusion and has the potential to strengthen the redistributive function of wealth through zakat. These two benefits are interrelated, since sharia compliance is a prerequisite for the sustainability of the developmental benefits. Strengthening platform transparency, harmonising cross-authority regulation, and improving sharia-digital literacy are therefore important steps to optimise the future potential of digital gold.