Status Kepemilikan Emas Digital Pada Tabungan Emas Pegadaian Syariah: Analisis Komparatif Praktik Operasional Dan Konsep Al-Milkiyyah

Abstract

The development of financial technology has transformed gold investment into a digital form that offers easier access, transaction efficiency, and ownership flexibility. One of the emerging products is Pegadaian Syariah Gold Savings, which enables customers to invest in gold through digital balance records. However, this ownership model has generated debate from the perspective of Islamic jurisprudence (fiqh muamalah), particularly regarding asset possession, the existence of the owned asset, and the owner's right to manage it. This study aims to analyze the ownership status of digital gold in Pegadaian Syariah Gold Savings based on the concept of al-milkiyyah in fiqh muamalah. The study employs a qualitative approach using a descriptive-analytical method with a

normative-empirical perspective. Data were collected through interviews, documentation, and literature review, and were analyzed using the concept of al-milkiyyah, which encompasses qabdh (possession), asset existence, and tasharruf (disposition rights). The findings indicate that digital gold ownership in Pegadaian Syariah Gold Savings tends to reflect milkiyyah naqishah (imperfect ownership), as asset possession is primarily in the form of qabdh hukmi (constructive possession), the gold is not physically available at the time of transaction, and customers’ disposition rights remain subject to certain operational restrictions. On the other hand, Pegadaian Syariah considers such ownership valid because it is supported by underlying assets and customers’ legal claims over them. These findings reveal a paradigm difference between the classical concept of ownership in Islamic jurisprudence and ownership practices within modern digital financial systems.