The Development Of Shariah-Compliant Gold Investment (SCGI) Instrument: An Analysis Of A Delphi Process
Abstract: This paper provides the analysis of a Delphi process for develop Shariah-Compliant Gold Investment (SCGI) instrument. A 2-round Delphi technique was employed to achieve consensus among participants for the items of SCGI. The participant comprised of 13 persons who are expert in Islamic muamalat, while the 4-point Likert Scale questionnaire was used on every round in order to obtain their agreement. The results indicated that the total of experts agreed for 33 items SCGI instrument which is embedded in three dimensions: (i) investor and investment institutions; (ii) products and prices; and (iii) the contract offer. The items were obtained showing high consensus and accepted frequency (IQR=0 or 1; mdn=4.00). The findings also showed that the Delphi was an efficient method to achive agreement of expert opinion on the SCGI instrument.
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