Shari'ah's normative framework as to financial crime and abuse
Abstract
Purpose
There has been growth in Islamic finance both in Muslim countries and around the world during the last two decades. This has attracted interest of those concerned with combating crime in financial institutions. This article aims to highlight the Shari'ah law's normative framework in addressing the different aspects of financial crime.
Design/methodology/approach
The paper is a general discussion of the substantive Islamic law (Koran, Haddiths, etc.) and begins with an introduction of the significance of property in Islam. It then focuses on the Shari'ah perspective on financial crime.
Findings
It is found that Islam has stressed and asserted the importance of honesty in business and monetary dealings. Acts negatively affecting the economy are prohibited by Shari'ah under the division of criminal law developed by Islamic jurisprudence.
Originality/value
The paper shows that Islamic law widens the circle of protection against financial crimes.
Keywords
Citation
El‐Rehim Mohamed Al‐Kashif, A. (2009), "Shari'ah's normative framework as to financial crime and abuse", Journal of Financial Crime, Vol. 16 No. 1, pp. 86-96. https://doi.org/10.1108/13590790910924993
Publisher
:Emerald Group Publishing Limited
Copyright © 2009, Emerald Group Publishing Limited