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- Title
Applying the Fuzzy Delphi Method (FDM) to Analyze the Expert Consensus Values for Instrument of Shariah-Compliant Gold Investment.
- Authors
Najahudin Lateh; Salmy Edawati Yaacob; Siti Noobiah Md Rejab
- Abstract
The objective of this study is to describe the process of development of Shariah-compliant Gold Investment (SCGI-i) instrument using the Classical Delphi Technique (CDT) and Fuzzy Delphi Method (FDM). The research instrument is based on questionnaire with 4-point Likert scale consisting of three dimensions and 34 items. A total of 13 Islamic Muamalat experts were selected as participants of CDT to obtain consensus. The results showed a high consensus among the participants with a score IQR = 0.00 to 1.00; Mdn = 4.00 to accept these three-dimensional, 32 of the original items and the new item (C11) and rejected two original items (B05; B15). The acceptance score is also supported by the empirical evidence of FDM analysis that shows the value of the threshold (d ≤ 0.2) and the percentage of expert agreement (≥75%). These instruments can be used by Islamic financial institutions to create new products or sharia audit of existing gold investments to comply with the requirements of Islamic Muamalat.
- Subjects
MALAYSIA; INVESTMENTS; GOLD; FINANCIAL institutions; DELPHI method; ISLAMIC law
- Publication
Pertanika Journal of Social Sciences & Humanities, 2017, Vol 25, p165
- ISSN
0128-7702
- Publication type
Article