Money laundering & multi-level marketing (MLM) / Mohammed Haikal Hanan … [et al.]

Hanan, Mohammed Haikal and Che Mustafa, Muhamad Faisal and Ahmad Zaki, Saifullah and Wan Daud, Wan Abdul Rahim (2023) Money laundering & multi-level marketing (MLM) / Mohammed Haikal Hanan … [et al.]. [Student Project] (Unpublished)

Abstract

A growing number of people are becoming aware of money laundering as a criminal activity that seriously threatens both national and international financial institutions. Illegal money infiltration leads to inflation, destabilises currencies, and exacerbates economic instability. Money laundering is necessary to safeguard and convert the illegal riches that criminals get via a variety of illicit activities. By legalising illegal cash through a variety of financial institutions and non-financial entities, advanced technology exacerbates the problem. In order to avoid disclosing suspicious transactions, money laundering adapts to both conventional and complex strategies, incorporating unscrupulous acts.

Multi-Level Marketing (MLM), on the other hand, is well-known for its distinctive business strategy and benefits including high compensation and cheap capital needs. However given the lack of clarity and public understanding around Sharia parts of contracts and transactions, concerns have been raised over its compatibility with Islamic principles. The lack of official Sharia assessments exacerbates this problem. Given the significance of information in Islamic teachings, it is important to comprehend how MLM transactions adhere to Sharia law. This is in line with Saidina Umar al-Khattab RA's instruction to research the religious background of transactions prior to participating in them.

Metadata

Item Type: Student Project
Creators:
Creators
Email / ID Num.
Hanan, Mohammed Haikal
2021868722
Che Mustafa, Muhamad Faisal
2021885986
Ahmad Zaki, Saifullah
2021809852
Wan Daud, Wan Abdul Rahim
2021461686
Contributors:
Contribution
Name
Email / ID Num.
Advisor
Mustapha, Ahmad Murshidi
UNSPECIFIED
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Islamic ethics
B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Islam and economics
B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Study and teaching. Research
Divisions: Universiti Teknologi MARA, Kelantan > Machang Campus > Academy of Contemporary Islamic Studies (ACIS)
Programme: IMU 550: Fiqh Mu'asarah
Keywords: Multi-Level Marketing (MLM), money laundering, currencies, economic, Islamic principles
Date: 2023
URI: https://ir.uitm.edu.my/id/eprint/114802
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