Financial Crimes in Perspective of Public Policy and Islamic Law: Case of Pakistan

Abstract

Purpose

The purpose of this chapter is to examine how the broader characteristics of Pakistan’s public policies reflect Islamic law, how the financial crime rate has been affected by policy rules, and if the policies do indeed reflect Islamic law, how do they help the process?

Methodology/approach

It is a qualitative exploratory study where structured interviews have been conducted with experts and practitioners in Islamic Ideological Council and Parliament.

Findings

The findings constitute a threadbare discussion of financial crimes which policy takes into account under Islamic law; along with the relevant ramifications and recommendations.

Research implications

It is suggested that the laws of Pakistan be studied taking Shariah density into consideration. Future research can focus on implementation of laws and policies as a factor improving governance.

Originality/value

This study is pertinent because financial crimes in light of Islamic law and public policy are not discussed in detail in previous research.

Citation

Murtaza, N. and Fatima, U. (2016), "Financial Crimes in Perspective of Public Policy and Islamic Law: Case of Pakistan", Mutum, D.S., Butt, M.M. and Rashid, M. (Ed.) Advances in Islamic Finance, Marketing, and Management, Emerald Group Publishing Limited, Leeds, pp. 159-184. https://doi.org/10.1108/978-1-78635-899-820161009