Nowadays, people love to do some investment in so many ways includes an online investment. It is a kind of virtual investment but you have the actual things that you invested. They invest their treasure in trusted e-commerce with a credible platform. Not only money but also gold can be invested there.
Online gold investment is very popular since it was launched in 2010. People love to invest their gold because it claims to have a more stable currency than money. Besides, the fluctuation rate of gold is always at a high rate and it will be like that for a long time. But, how Islam perceived these things? As people claim that it is easier to do online business in Islamic perspective.
Do the investment in Islam is permissible, includes do the online or virtual gold investment. Before you decide to take this kind of investment, you should make sure that it follows under Islamic law. Here we have 5 things you should know about online gold investment from Islamic perspectives.
1. Avoid The Riba
The basic investment that belongs to Islamic law is about the Riba or usury. The investment will be permissible if it avoids the usury. As Muslims, we should follow Islamic law to avoid usury as the bad effects of loans in Islam.
On the Quran surah, Al Baqarah verse 276 mentions about this.
يَمْحَقُ اللّٰهُ الرِّبٰوا وَيُرْبِى الصَّدَقٰتِ ۗ وَاللّٰهُ لَا يُحِبُّ كُلَّ كَفَّارٍ اَثِيْمٍ – ٢٧٦
“Allah destroys usury and fertilizes alms. Allah does not like everyone who remains in disbelief and is filled with sin.” (QS 2:276)
2. Syariah Certificate
An online gold investment you take will give you a certificate that shows the ownership of the gold. You have to make sure that it issued under the Islamic law certificate.
By that issued, your certificate becomes a Syariah certificate which makes your investment permissible in Islam. you need to follow this rule so may your wealth will be granted by Allah
3. Halal Method
The payment method on your online gold investment should be done in a halal way. This means the payments should do either in cash, debit card, or other payments based on a lawful Islamic way. It is important to do so that you will avoid the bad impact of debt in Islam.
Any kind of payment such as using the credit card or anything that needs more than 3 days for settlement is not permissible. Besides, using this credit type of payment will cause usury. It is like the same case with loans and debt in Islamic law.
You should avoid paying with usury to make your investment to be lawful. It mentions the Quran surah Al Baqarah verse 275.
اَلَّذِيْنَ يَأْكُلُوْنَ الرِّبٰوا لَا يَقُوْمُوْنَ اِلَّا كَمَا يَقُوْمُ الَّذِيْ يَتَخَبَّطُهُ الشَّيْطٰنُ مِنَ الْمَسِّۗ ذٰلِكَ بِاَنَّهُمْ قَالُوْٓا اِنَّمَا الْبَيْعُ مِثْلُ الرِّبٰواۘ وَاَحَلَّ اللّٰهُ الْبَيْعَ وَحَرَّمَ الرِّبٰواۗ فَمَنْ جَاۤءَهٗ مَوْعِظَةٌ مِّنْ رَّبِّهٖ فَانْتَهٰى فَلَهٗ مَا سَلَفَۗ وَاَمْرُهٗٓ اِلَى اللّٰهِ ۗ وَمَنْ عَادَ فَاُولٰۤىِٕكَ اَصْحٰبُ النَّارِ ۚ هُمْ فِيْهَا خٰلِدُوْنَ – ٢٧٥
“People who eat usury cannot stand but rather like the establishment of a person who is possessed by Satan because he is crazy. That is because they say that buying and selling is the same as usury. Though Allah has justified the sale and purchase and forbid usury. Whoever gets a warning from his Lord, then he stops, then what he has obtained previously belongs to him and his affairs (it’s up to) to God. Whoever repeats, they are the inhabitants of hell, they are eternal in it.” (QS 2: 275)
4. Have Enough Gold
Using the virtual gold investment makes you wonder so many things. Is there are gold enough for you? That is why you need to make sure the platform you choose that they have good enough to settle your transaction.
By making sure any details of your transactions during your online investment, it will make you have a secure online gold investment. It is important since your investment is using for saving needs following Islamic law.
Whether saving for your family’s needs or charity, it is permissible to do this kind of investment. So that you will know about the differences between Hibah and Wasiyat. On the Quran surah, An Nisa verse 32 mentions this.
وَلَا تَتَمَنَّوْا مَا فَضَّلَ اللّٰهُ بِهٖ بَعْضَكُمْ عَلٰى بَعْضٍ ۗ لِلرِّجَالِ نَصِيْبٌ مِّمَّا اكْتَسَبُوْا ۗ وَلِلنِّسَاۤءِ نَصِيْبٌ مِّمَّا اكْتَسَبْنَ ۗوَسْـَٔلُوا اللّٰهَ مِنْ فَضْلِهٖ ۗ اِنَّ اللّٰهَ كَانَ بِكُلِّ شَيْءٍ عَلِيْمًا – ٣٢
“And do not be jealous of the gift that God has exerted on some of you over some others. (Because) for men there is a part of what they are trying to do, and for women (even) there is a part of what they are trying to do. Ask God for some of His gifts. Truly, Allah is All-Knowing everything.” (QS 4:32)
5. Paying Zakat
Online gold investment is permissible if you pay the Zakat for it. The gold is one of the treasury you need to pay for as it is written on Islamic law. Every Hawl in Islam is fulfilled and the obligatory Nisab that reach of 85 grams of gold is exceeding to pay for the Zakat.
It mentions in the Quran surah Al Bayyinah verse 5.
وَمَآ اُمِرُوْٓا اِلَّا لِيَعْبُدُوا اللّٰهَ مُخْلِصِيْنَ لَهُ الدِّيْنَ ەۙ حُنَفَاۤءَ وَيُقِيْمُوا الصَّلٰوةَ وَيُؤْتُوا الزَّكٰوةَ وَذٰلِكَ دِيْنُ الْقَيِّمَةِۗ – ٥
“Even though they were only ordered to worship Allah willingly to obey Him solely because of (practicing) religion, and also in order to perform prayers and perform zakat; and that is the right religion.” (QS 98:5)
So, there is 5 perspective about online gold investment in Islam that you should know. Be wise to your treasure, so may you will get Allah blessing.