Securities represent tradable assets exchangeable within financial markets. They encompass various financial instruments such as stocks, bonds, and options. In the context of Islamic finance, securities are required to adhere to sharia principles, which prohibit interest, uncertainty, and speculation, and to ensure profit and loss sharing and tangible asset backing. Securitization entails the conversion of sharia-compliant assets into securities, ensuring adherence to sharia guidelines to prevent any potential violations of Islamic norms. The positive correlation between Islamic securities issuance and economic growth in Southeast Asia suggests a potential role for Islamic capital markets in promoting economic expansion. However, research on the relationship between Islamic securities and gold for diversification has yielded conflicting results.