Filter by Categories
Accounting
Banking

Islamic Finance




Ta’zir Mali


Arabic (تعزير مالي) for a certain type of punishment that is not set out by shari’a but is rather left to the judge to dispense it. This is usually the case with sinful acts for which shari’a assigns no specific legal penalties (hudud).

A transgressor may be subject to different types of financial punishments according to the proportion of his acts: (1) fines, (2) interdiction (hajr) whereby a transgressor is prevented from using his/ her assets- object of violation- for a period of time, and (3) confiscation or destruction of the object of violation.



ABC
The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
Watch on Youtube
Remember to read our privacy policy before submission of your comments or any suggestions. Please keep comments relevant, respectful, and as much concise as possible. By commenting you are required to follow our community guidelines.

Comments


    Leave Your Comment

    Your email address will not be published.*