Purpose Gold investment is one of the essential long-term investments for many to diversify their investment portfolios. Muslims are continuously looking for halal products and services in any aspect of life and one of them is Shari’ah gold investments (SGI). However, evidence pertinent to Muslims’ behaviour towards Shari’ah gold is somewhat inconclusive and for that, a new empirical investigation is needed to reduce the gap, at best. Hence, the purpose of this study is to study factors determining SGI behaviour in Penang, Malaysia. Design/methodology/approach By using the Islamic theory of consumer behaviour (ITCB), this study examines the determinants of the SGI behaviour. The questionnaire survey was distributed and the data gathered was analysed using partial least square structural equation modeling. Findings All hypothesised hypotheses were instrumental in explaining the factors determining SGI behaviour in the context of Penang, Malaysia. Research limitations/implications This study has at least two limitations, namely, confined generalisations of the variables used and the limited context of the research conducted. Practical implications This study sheds light on the determinants influencing SGI behaviour, at best. Originality/value This study is original in terms of its final output that enlightens the significant effects of iman, Islamic altruism, maqasid consumer index on the behaviour of investors on Shari’ah gold within the ITCB’s context along with integrated religious satisfaction.

This study applies the ASE model which examines the effects of attitude, social influence and self-efficacy towards intention behaviour to pay zakat on gold among working adults in Federal Territory, Malaysia. Apparently, the current study was implemented due to the trend in gold investment and the zakat imposed on such investment increased, but the scope of the study was limited. As a preliminary study, 50 respondents participated in an online questionnaire survey that was issued in November 2021. The data survey was analyzed using the structural equation modelling (SEM) approach. The results revealed that attitude and self-efficacy have a significant relationship to the intended behaviour of gold zakat payment among working adults in Kuala Lumpur, Selangor, Putrajaya and Labuan. Unlike, social influence was found an insignificant effect on intention behaviour to pay zakat on gold. Hence, the obtained results may be relevant to provide zakat institutions with new insights into factors determining zakat payment on gold specifically in Federal Territory, Malaysia and thus can contribute to studies that are related to the ASE model.