Ancient Wisdom on Combating Money Laundering & Terrorism Financing:A Solution from a 1400-Year-Old BOOK
DOI:
https://doi.org/10.70091/vol06no01.014Keywords:
Quran, money laundering, terrorism financing and global peaceAbstract
The modern AML and CTF regulations reflect ancient moral and ethical guidance from Islamic scripture. In our modern world, combating money laundering and terrorism financing has become a pressing global concern. Governments, financial institutions, and law enforcement agencies around the world are constantly striving to develop new strategies and technologies to combat these illicit activities. However, what if the solution to this age-old problem lies in ancient wisdom? Surprisingly, a 1400-year-old book offers valuable insights and guidance on how to tackle money laundering and terrorism financing effectively. Islamic teachings in the Quran strongly emphasize honesty, trustworthiness, fairness, justice, charity, and social responsibility. In Quran Surah Al Ahzab Verse 70 “O you who believe! Have Taqwa of Allah and speak (always) the truth”. Meaning, to speak straightforwardly, with no crookedness or distortion. Surah Al-Baqarah, 2-Verse 42 “And do not mix up the truth with falsehood, nor conceal the truth deliberately.” In the modern age, financial crimes such as money laundering, and terrorist financing, pose significant threats to global economic stability and security. The Quran's teachings on financial ethics emphasize transparency and accountability, which are crucial in combating modern financial crimes. The core theme of this paper centers on direct quotes from the Quran, where Allah (God) clearly commands His followers to uphold global security and social justice as fundamental purposes of Islam. These teachings highlight the responsibility of Muslims to ensure fairness in their dealings and to support structures that promote peace and justice across the world. The Quran's teachings from 1,400 years ago are remarkably relevant to modern definitions of money laundering and terrorism financing. These timeless principles continue to provide valuable insights into creating ethical and secure financial systems that protect against corruption, fraud, and the funding of terrorism. This paper argues that modern anti-money laundering and counter-terrorist financing laws are not novel concepts but are rooted in teachings from the Holy Quran.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 ATRAS journal
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Licensing Framework
ATRAS utilizes the Creative Commons Attribution-NoCommercial 4.0 International License, which permits others to remix, tweak, and build upon the work non-commercially, as long as the original work is properly cited. All the journal’s content is under Creative Commons Attribution-NonCommercial 4.0 International (CC BY-NC 4-0).
Importantly, the intellectual property rights of the submitted papers remain with the contributors. ATRAS, published by Saida University, Dr Moulay Tahar, Algeria, does not collaborate with any private publishing companies to promote its publications. This policy is in place to prevent deceptive publishing practices. Furthermore, ATRAS strictly prohibits the commercial use or marketing of its published material.
Authors retain the right to reproduce and distribute their articles in any format, without prior authorization, with the proper acknowledgement of the first publication.
Authors are encouraged to self-archive their articles online (in institutional repositories, personal websites, etc.). Any such posting must include an appropriate citation and a link to the journal’s website.
Copyright Holder
Researchers who publish their manuscripts in ATRAS agree to the following:
Copyright and Licensing:
Author (s) retain unrestricted copyrights and publishing rights of their works, which are made available under the Creative Commons Attribution-NonCommercial CC BY-NC 4.0 (CC BY-NC 4.0), permitting others to:
SHARE: Copy and redistribute the materials in any format and medium.
ADAPT: Remix, transform, and build upon the material.
The licensor cannot revoke these freedoms as long as he follows the license terms, which are:
ATTRIBUTION: Proper credit must be given, with a link to the license, and any modifications noted. This should not imply endorsement by the licensor.
NONCOMMERCIAL: The material cannot be used for commercial purposes.
Additional Agreements: Researchers can enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal’s published versions of the work (e.g., post it in an institutional repository or publish it in a book) with acknowledgement of its initial publication in ATRAS.
Online Sharing: Authors are permitted and encouraged to share their works online (e.g., in institutional repositories or on their websites) prior to and during the submission process, promoting productive exchanges and increasing citations.
