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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