Volume 13 No. 1, June 2014
ARTICLE INFO
Article History:
Received: 10 September 2013
Accepted: 28 March 2014
Published: 30 June 2014
MANAGEMENT AND ACCOUNTING REVIEW, VOLUME 13 NO. 1, JUNE 2014
FRAUDULENT BUSINESS PRACTICES IN EARLY ISLAM AS REPORTED IN A CLASSICAL TEXT
Ahmad Che Yaacob
Universiti Teknologi MARA Johor, Malaysia
Universiti Teknologi MARA Johor, Malaysia
Normah Omar
Accounting Research Institute, Universiti Teknologi MARA,
Malaysia
ABSTRACT
The main purpose of this paper is to elucidate some fraudulent business practices in early Islam. The reference material is an edited manuscript entitled Kitab al-Nazar wa al-Ahkam fi Jami Ahwal al-Suq (Book on supervision and legal decision on matters related to the market). The book, which deals with the subject of market supervision, is considered the earliest of its kind. The book was a compilation of legal opinions of a Maliki scholar Yahya ibn Umar (d. 289H/901CE), who was asked about various matters relating to business practices during his time. The fact that these legal opinions are made based on understanding of Islamic law it should be differentiated from ordinary works of fiqh. In fact the book deals with real situation in the business during that times and describes actions taken by the officer in charge.
Keywords: Fraud, Islamic law, market supervision
Keywords: Fraud, Islamic law, market supervision